Can Fin Homes Ltd. - Weekly Chart Analysis

This weekly chart of Can Fin Homes Ltd. indicates a strong potential for an upward move as the stock approaches a key resistance level with bullish momentum. The setup highlights the following trade parameters:

Entry: Around 876.00 INR
Target: 1,023.40 INR (Potential upside: 16.83%)
Stop Loss: 828.00 INR (Potential downside: 5.49%)
Risk/Reward Ratio: Approximately 3.07:1
Can Fin Homes Ltd. is trading within a symmetrical triangle pattern, which is generally seen as a continuation pattern. The breakout above the upper trendline, accompanied by increased volume, signals potential bullishness. The Fibonacci extension levels suggest a strong resistance around 1,023.40 INR, aligning with the previous high. This trade setup offers a favorable risk/reward ratio, making it an attractive opportunity for traders eyeing a breakout in the medium term.