After a bag correction IndiaBulls Hosing Finance is trying to move back, long positions can be considered on dips.
Probably all the bad news is priced in already, there is a huge buildup on short side. Show of little strength may result in a cascading effect and push the prices higher in no time.
Trade on the long side, utilising dips for a target of 340 or so.
Stop-loss of 189-191 should be followed for trading positions, medium and long investors can study the fundamentals further and take a call based on them.
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I've been holding short since 163. Could you please suggest a decent exit level?
ipuneet
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@Sandy2019, Sir, as far as technicals are concerned, Indiabulls is in strong bull zone. Some negatve news may drag it down to 165 or even lower but it is difficult to pre estimate such news at this stage.
Sandy2019
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@ipuneet, Exited this morning. and since then it fell 12 pts :(
ipuneet
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@Sandy2019, Bad luck Sir, I advise to always avoid trading in highly volatile stocks (like Infosys today), and follow small stop losses.
Sandy2019
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@ipuneet, utter disappointment. :( went to 190s.. more than 50k(2 lots) loss from exited point in a single day