|Sell Range||590 – 570|
|Target||480 – 450|
|Duration||12 – 15 Trading Sessions|
|Potential Return^||10 – 12%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|83.3||SELL||91 – 85||65 – 60||102||4 – 6 Weeks||22 – 28%|
# CMP on June 07, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 74.
^ The returns are calculated based on CMP#
Dewan Housing focuses on providing financing products to the lower and middle-income segments in India and offers home loans, land loans, home renovation loans, construction loans to self employed, salaried professionals and entrepreneurs. The company also provides non-hosing loans, business loans, plant and machinery loans, property term loans etc.
|Sectoral Index||Nifty Financial Services|
TECHNICAL OBSERVATIONS (MONTHLY & WEEKLY)
- Looking at the monthly chart, the stock has seen a spectacular rally from December 2002 to September 2018.
- After a fresh all-time high of around 691.5 (September 2018), the stock price has slipped into sharp declines and moved below the upward sloping support line.
- The weekly chart indicates that after a 17 weeks consolidation stock has given the downside breakout of the trend line indicates further negative sign.
TECHNICAL OBSERVATIONS (DAILY)
- The strong downside move during the previous two days has resulted in a decisive breakout from the symmetrical triangle pattern.
- The breakout is associated with Gapping down implying Strong breakout.
- The momentum oscillator RSI is also moving downwards in the daily chart and thus showing negative strength.