Hi Axe,
According to the laws, a direct free kick (or penalty if the offence occurred inside the box) is awarded if a player deliberately handles the ball. So, the key word here is deliberate. In order for it to be a free kick, the player had to intend to connect his hand with the ball. But the incident you described sounds like "ball to hand" to me. As the defender was just in the way of a 'million mile an hour' shot, there should be no penalty/free kick.
The 'denying a goal-scoring chance' bit can only come into play if the defender deliberately moved his hand to stop the ball going into the net. If he did that, it would be a pen & a red card.
Does that answer your q?
Cheers,
GiB
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