April 5, 2019 / 4:23 AM / 6 months ago

BUZZ-India's Indiabulls Housing Finance hits near 6-month high, chart suggests more upside

** Shares of Indiabulls Housing Finance Ltd gain as much as 1.54 pct to 912 rupees, highest since Oct 17, 2018

** Stock breaks above a resistance at 905.65 rupees, the 38.2 pct Fibonacci retracement level of the downtrend from Jan 29, 2018 high to Feb 11, 2019 low tmsnrt.rs/2VprVL8

** A close above this 38.2 pct level may lead to further rise up to the next resistance at 1,007.65 rupees, the 50 pct retracement level

** Stock’s 5-day average volume is about 67 pct higher than its 30-day average volume, seen favourable for further upside

** Stock’s wave pattern suggests it is in the wave iii of a five-wave uptrend

** Trend intensity(TI) indicator rises two points to 29, suggests prices are trending upwards

** MACD is positive and above its signal line

** Stock up 33.7 pct in the one month through Thursday, outperforming the broader NSE Index’s 6.8 pct gain (Reporting by Gaurav Dogra)

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