Technical Analysis of CANFINHOME and JIOFIN

Stock name: Can Fin Homes Ltd.

Pattern: Double top pattern

Time frame: Daily

Observation:

Since June 2022, the stock has maintained an overall upward trend. However, between June and December 2024, it formed a double-top pattern on the daily chart and broke down from the pattern around December 20, 2024. While no significant downward candles with high volumes have been observed, the stock has been trending lower post-breakdown. According to technical analysis, if the current momentum continues, further downside may follow. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Jio Financial Services Ltd.

Pattern: Triple top pattern and retest

Time frame: Daily

Observation:

After its demerger and listing, the stock rallied upward until April 2024, followed by a downward trend. Between March 2024 and January 2025, it formed a triple-top pattern on the daily chart, breaking down from the pattern around January 10, 2025. After a brief retest, the stock resumed its decline on January 17, 2025, and recently it has seen an increased trading volume. Based on technical analysis, the stock may decline further. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.