Comments
The short-term outlook is bullish for IIFL Finance. The stock has begun the week strongly by surging over 6 per cent on Monday. This has taken the share price well above the key trend resistance level of ₹526. We can now expect this level of ₹526 to act as good support and limit the downside. IIFL Finance’s share price can initially rally to ₹610-615 over the next two to three weeks. Thereafter the upside can extend even up to ₹640 in a month or two. Traders can go long now. Accumulate on dips at ₹530. Keep the stop-loss at ₹505. Trail the stop-loss up to ₹555 as soon as the stock moves up to ₹570. Move the stop-loss to ₹575 when the stock price touches ₹585. Exit the long positions at ₹605.
Read: IIFL Finance NCDs offer up to 9% coupon: Should you invest?
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.