Indiabulls financial services is trading in upward trading channel as shown in chart. Since last 3 trading session it has been testing lower trendline of trading channel and bouncing back. This bounce back may take this stock to 235 level in short term. Stock did not correct much in past trading sessions though main indices corrected sharply. Stock is still trading above its 100 and 200 DMAs thoguh main indices slipped below them. However stock is trading below its 20 and 50 DMAs. Traders can buy this stock at current price with target of 235.
Strict stop loss at 205 recommended.
CMP -217.55
