Buy Indiabulls Housing Finance, target Rs 780: Vaishali Parekh

Vaishali Parekh of Prabhudas Lilladher has given a buy recommendation on Indiabulls Housing Finance with a target price of Rs 780.

Indiabulls Housing Finance, incorporated in the year 2005, is a largecap company (having a market cap of Rs 29,764.37 crore), operating in finance sector.

Shares of the company traded at Rs 672.4 around 1:30 pm on 13 May, 2019.

The analyst has set a two-week horizon for the stock to hit the target price and recommended keeping a stop loss of Rs 660.

Investment rationale:

"The stock has corrected well from the peak of Rs 919 to bottom out near Rs 666 and has indicated a bounce back with a positive candle to signify strength," said Parekh.

It has potential to rise further in the coming days. The chart looks attractive with the RSI, too, showing a trend reversal to signal a buy.

"With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 780, keeping a stop loss of Rs 660, Parekh said.