- gained ground despite the development.
Gehlaut took charge as CEO and whole-time director of Indiabulls Ventures
— a sister company — on June 25. “Since he cannot hold executive positions in two firms at the same time, Gehlaut has decided to step down from Indiabulls Housing,” said a senior management representative privy to the development. READ MORE HERE
Here's how you can trade in these scrips over the next few sessions.
Indiabulls Ventures Ltd (IBVENTURES):
From a medium-term perspective, this counter is heading towards Rs 225 levels. As it moved above 200-days moving average (DMA) in the past few sessions, the upside momentum has gathered strength with a formation of “Inverse Head and Shoulder” pattern. At the current levels, the 50-DMA has crossed 100-DMA, which hints at an inherent underlying strength. The support on an immediate closing basis is placed at Rs 140 levels. CLICK HERE FOR THE CHART
Indiabulls Real Estate (IBREALEST):
This stock has gradually moved up and made 'higher highs'. That’s said, the momentum is not very appealing and energetic. The next leg of upside is located above the 'Double Bottom' breakout level of Rs 73, as per the weekly chart. The 200-DMA has become a minor resistance, which is at current levels. However, MACD has crossed the zero line upward, showing a positive strength from a medium-to-long term perspective. CLICK HERE FOR THE CHART
Indiabulls Housing Finance Ltd (IBULHSGFIN):
The stock has been able to cross the 200-DMA and now is heading towards the trendline resistance between Rs 235 and Rs 238 levels. That said, the long-term trend looks extremely optimistic as MACD is moving up near the zero line with potential positive crossover. All the major moving averages are heading up - a sign of the stock moving towards higher levels in the sessions ahead. The support stays at Rs 215 levels. Once breached with good volume, it can then move towards Rs 238 and then Rs 260 levels in the weeks ahead. CLICK HERE FOR THE CHART