Surging continuously! Anil Singhvi expects Can Fin Homes to surge amid strong action in stock, predicts THIS

In a special edition of AajKe2000, Zee Business Managing Editor Anil Singhvi advised investors to Buy Can Fin Homes as the stock is in exemplary action and has been surging continuously since the last few sessions lately.

Can Fin Homes soared near nine per cent to touch a day’s high level to Rs 566.30 per share on the BSE intraday during Friday’s trade. The stock at around 12:30 is been trading around one and a half per cent higher to Rs 527.85 per share. It touched a day’s low of Rs 522.8 during early trade.

See Zee Business Live TV Streaming Below:

Singhvi said, after a rally in Can Fin Homes, other housing finance companies’ shares such as IndiaBulls Housing Finance, PNB Housing, HDFC have been surging too. He adds, the whole sector is under re-writing and Can Fin Homes would show great performance going forward.

The market guru sets two targets of Rs 575 and 600 per share with respect to positional view with a stop-loss of Rs 535 per share.

Canfin Homes में जबरदस्त एक्शन...शेयर और दौड़ लगाने को तैयार...

अनिल सिंघवी- पोजीशनल टार्गेट के लिए गिरावट पर करें खरीदारी...सेक्टर की री-रेंटिंग का मिलेगा फायदा#AajKe2000 @AnilSinghvi_ pic.twitter.com/6wUCh69qmY

— Zee Business (@ZeeBusiness) June 11, 2021

Meanwhile, the market analyst Sumeet Bagadia says, the stock has established a strong Candle formation and it also broke days high levels in the last four-five sessions.  

He explains, the stock is taking support at Rs 535-540 per share and would grow more the levels of Rs 580-600 per share, provided it breaks the resistance of Rs 565-570 per share level.

With a market capitalisation of over Rs 7000 crore, the stock has touched its 52-week high at Rs 619 per share on March 23, 2021, and 52-week low at Rs 294.95 per share on December 12, 2020.

For the last five days, the stock has been trading between Rs 550-560 per share levels, with a little dip at its support level around Rs 530 per share.