Indiabulls Housing Finance share price to give 10% returns in 10-15 trading sessions, say stock market experts

Indiabulls Housing Finance share price is expected to give more than 10 per cent returns in short-term, say stock market experts. According to the share market experts, the counter is expected to touch around Rs 740 per stocks in around 10-15 trading sessions means in short-term perspective or less than a month, a stock market investor can expect to gain around 10 per cent by investing in IndiaBulls Housing Finance stock, say experts. 

Subash Gangadharan, Technical Research Analyst at HDFC Securities said, "IB Housing Finance has bounced back smartly this week from a low of 613, thereby making a double bottom pattern. The stock had previously tested these levels in early July 2019. Zooming into the 15-minute intraday charts, we can notice that the stock is making higher tops and higher bottoms in the last two sessions, which augurs well for the short term uptrend to continue. Technical indicators like the 14-day RSI are giving positive signals as it is in rising mode and not overbought. The stock is now on the verge of moving above its 13-day SMA."

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On the suggestion to the stock market investors, Subash Gangadharan of HDFC securities said, "Buy between 660 and 670 with an SL at 635 and Target of 740 for 10-15 trading sessions."

Simi Bhaumik, a SEBI registered technical equity expert said, "The Indiabulls Housing Finance counter is looking bullish in short-term and can show Rs 720-730 in less than a month." However, looking at both sides of the coin, Bhaumik said and added that it would be better if an investor takes a buy position once the counter sustains above Rs 665 per stock levels because, above this level, the counter is highly bullish.