Indiabulls Housing Finance Ltd

NSE :IBULHSGFIN   BSE :535789  Sector : Finance

After the Q4 returns declared on 20-May-2021 stock has seen a sharp up move, backed by good Q4 results buying interest has been seen in the stock. Overall, there has been an above 100 per cent increase in the company’s profit from Rs 137 crore in Q4 FY20 to Rs 276 crore this year (Q4 FY21).

What’s Ahead? Technical Outlook of IBULHSGFIN:

IBULHSGFIN closed at 224.60 on NSE with a gain of 4.5%, Stock was the top gainer in the F&O space. It is trading above 200-100-50-20-10 Exponential moving averages. The Short Term trend is bullish and stock has relatively outperformed Nifty since the last few trading sessions.

Comparative RSI shows strength in the stock. When Fibonacci levels are plotted it seems stock has crossed 0.618% level of 214.25. Now from here 214.25 will act as immediate support for the stock. It provides a good opportunity to go long on the stock for the targets of 235-250.

Note: Immediate resistance for the stock lies at 230 if stock sustains above 230 open rooms for 250 on upside. If the stock closes below 214.25, we need to review the chart pattern and technical structure of IBULHSGFIN. 

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