| CMP# | 570 |
| Idea | SELL |
| Sell Range | 590 – 570 |
| Target | 480 – 450 |
| StopLoss* | 600 |
| 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#
COMPANY OVERVIEW
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.
| Stock Data | |
| NSE Code | DHFL |
| Sectoral Index | Nifty Financial Services |
| 52W High | 691.5 |
| 52W Low | 80.1 |
| Face Value | 10 |
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.
CONCLUSION - Dewan Housing SHARE PRICE FORECAST
Based on our best short term trading tips
, Dewan Housing share price target will be 65 – 60 in the next few days.