Indiabulls Housing Finance Ltd

NSE :IBULHSGFIN   BSE :535789  Sector : Finance

INDIABULLS HOUSING FINANCE LIMITED on Monday’s (14-June) trading session gained 3.88% and closed at 298.50 on NSE. As the stock is trading above 10,20 and 50 Exponential Moving averages, the trend for the stock is up and intact. Comparative relative strength index indicates bullishness in the stock and outperformance in the stock may continue. Support for the stock is at 278 and resistance is seen at 311. After Q4 FY21 results we have seen buying attraction in the stock. In the F&O segment stock is trading in the BAN period.

On 26 May 2021 we have recommended buy on the stock and targets were achieved, Click here to read our previous prediction on IBULHSGFIN

When Fibonacci retrenchment is plotted on the previous trend, the possible target on the upside comes out to be 311. Short term traders should try to enter stock in intraday corrections. We recommend to keep stop loss below today’s low at 282.