HOMEFIRST - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 3.1

Here’s a detailed technical breakdown of Home First Finance Company India Ltd (HOMEFIRST)

📉 Trend Overview

Current Price: ₹1,197 is below the 50 DMA (₹1,311), but above the 200 DMA (₹1,166), suggesting a short-term downtrend within a long-term uptrend.

Trend Status: The stock is currently reversing from its highs and showing signs of weak momentum.

📊 Momentum Indicators

RSI (33.6): Near oversold territory, indicating potential for a short-term bounce.

MACD (-17.6): Negative, confirming bearish momentum and lack of buying strength.

Volume: Current volume (6.53L) is below the 1-week average (7.18L), suggesting low conviction in recent price moves.

📈 Moving Averages

Indicator Value Signal

50 DMA ₹1,311 Price below – Bearish

200 DMA ₹1,166 Price above – Neutral to Bullish

📌 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 ₹1,166 200 DMA – key support zone

Support 2 ₹1,100 Previous consolidation base

Resistance 1 ₹1,311 50 DMA – strong resistance

Resistance 2 ₹1,400–₹1,450 Psychological and historical resistance zone

📍 Entry & Exit Zones

Optimal Entry: ₹1,160–₹1,190 (if RSI dips below 30 and MACD flattens)

Exit Target: ₹1,310–₹1,400 (if reversal confirms with RSI > 45 and MACD crossover)

📊 Bollinger Bands Insight

Price is likely near the lower band, suggesting oversold conditions and potential for a technical rebound.

Bands are moderately wide, indicating volatility.

🔍 Chart Pattern Insight

No clear bullish reversal pattern yet.

Price action suggests a retracement from the 52-week high of ₹1,519.

Watch for trendline resistance near ₹1,310.

🧭 Summary

Technical Bias: Bearish to Neutral

Momentum: Weak, nearing oversold

Trend: Reversing from highs

Suggested Strategy: Wait for confirmation of reversal before entering. Ideal for short-term swing if support holds and indicators improve.

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