Indiabulls Housing Finance Limited has broken up through the ceiling of the rising trend channel in the medium long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. The stock has also received a positive signal from the moving average indicator, thus signaling a continued rise.
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There is no
resistance in the price chart and further rise is
indicated. In case of a negative reaction, the
stock has support at approximately 156
rupee. Positive volume balance, with high
volume on days of rising prices and low
volume on days of falling prices, strengthens
the stock in the short term. RSI above 70
shows that the stock has strong positive
momentum in the short term. Investors have
steadily paid more to buy the stock, which
indicates increasing optimism and that the
price will continue to rise. However,
particularly for big stocks, high RSI may be a
sign that the stock is overbought and that
there is a chance of a reaction downwards.
The stock is overall assessed as technically
positive for the medium long term.
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