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Shares of Indiabulls Housing Finance Ltd gained as much as 1.54 per cent to Rs 912, its highest since October 17, 2018.
The stock broke above a resistance at Rs 905.65, the 38.2 per cent Fibonacci retracement level of the downtrend from the Jan 29, 2018 high to the Feb 11, 2019 low.
A close above this 38.2 per cent level may lead to a further rise up to the next resistance at Rs 1,007.65, the 50 per cent retracement level.
The stock's 5-day average volume is about 67 per cent higher than its 30-day average volume, seen favourable for further upside.
The stock's wave pattern suggests it is in the wave iii of a five-wave uptrend. The Trend Intensity (TI) indicator rises two points to 29, suggests prices are trending upwards
MACD is positive and above its signal line
The stock is up 33.7 per cent in the one-month through Thursday, outperforming the broader NSE Index's 6.8 per cent gain.
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