HOMEFIRST : Capitalizing on Demand Rejection for Long-term GainsHome First Finance Ltd.
Current Price: ₹1,058.55
Chart Observations:
The stock shows a corrective pattern marked as (A-B-C). The final wave C has hit a deep retracement zone (₹925–₹868) , which corresponds to 113%–127% Fibonacci levels.
A Wave C completion zone aligns with a strong demand area. This creates a second buy zone , with the stock expected to reverse upward toward its higher Fibonacci targets.
Break of a minor swing high structure around ₹1,100 confirms the bullish trajectory.
Buying Levels:
First buy zone: ₹1,030–₹1,060 (current price levels).
Second buy zone: ₹925–₹868 (Wave C retracement zone).
Stop Loss:
For Zone 1 Entry: ₹869.
For Zone 2 Entry: ₹820 (safe placement below retracement zone).
Target:
First Target: ₹1,318
Second Target: ₹1,492
Pro Tip to Avoid SL Hunting: Wait for rejection wicks or a bullish engulfing pattern within the demand zone for higher probability entries.
Disclaimer: This analysis is for educational purposes only . Investments in stocks and financial markets involve risks, including the loss of principal. Always conduct your own due diligence or consult with a certified financial advisor before making any investment decisions.
