Indiabulls Housing Finance has seen a correction up to levels of ~80 from the level of 300 in March 2020 i.e before the lockdown was imposed.
The stock has shown a significant recovery thereafter and has shown an upside of more than ~200% from the lower levels of ~80 within a year.
Looking at the current status of the stock, the levels of 250 is looks achievable. The same anticipation gets a bullish confirmation if we look at the derivatives statistics of the stock. As of Feb 18, 2021, a significant OI addition is seen in the CALL Option of 240 and 250. In simple terms, the market is also bullish on the stock for the levels of 250.
Thereafter the levels of 300 can be sighted as a next target which is expected to be acheived by September or earlier given the bullish trend continues in the sector and no negative news about the company arrives in the market.
The stock tried to break the levels of 221-235 in July 2020 as well, however couldn't do so and thereafter seen a correction upto the levels of ~150. The same situation is persisting currently but this time it has a positive outlook as there has been nothing negative in the Union Budget 2021 and the demand is slowly picking up post the pandemic.
Crucial support levels for the stock are as follows and one should look to enter into the stock at the given levels to maximise their profit.
Important support levels - 231, 221, 212, 193
Target on the upside are - 250, 300
Stoploss should be one of the mentioned support levels. These levels are from a positional perspective.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
The stock has shown a significant recovery thereafter and has shown an upside of more than ~200% from the lower levels of ~80 within a year.
Looking at the current status of the stock, the levels of 250 is looks achievable. The same anticipation gets a bullish confirmation if we look at the derivatives statistics of the stock. As of Feb 18, 2021, a significant OI addition is seen in the CALL Option of 240 and 250. In simple terms, the market is also bullish on the stock for the levels of 250.
Thereafter the levels of 300 can be sighted as a next target which is expected to be acheived by September or earlier given the bullish trend continues in the sector and no negative news about the company arrives in the market.
The stock tried to break the levels of 221-235 in July 2020 as well, however couldn't do so and thereafter seen a correction upto the levels of ~150. The same situation is persisting currently but this time it has a positive outlook as there has been nothing negative in the Union Budget 2021 and the demand is slowly picking up post the pandemic.
Crucial support levels for the stock are as follows and one should look to enter into the stock at the given levels to maximise their profit.
Important support levels - 231, 221, 212, 193
Target on the upside are - 250, 300
Stoploss should be one of the mentioned support levels. These levels are from a positional perspective.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.