Indiabulls Housing Finance Limited (SAMMAANCAP) Stock - Complete Technical Analysis - Dec 17, 2024

Indiabulls Housing Finance Stock Technical Analysis Support & Resistance Levels Price Prediction

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Indiabulls Housing Finance Limited (SAMMAANCAP) is currently trading at 159.81, which is a notable 31.94% below its 52-week high. The stock has been facing some price volatility recently, highlighted by candlestick patterns like the Doji, which suggests indecision. This is compounded by a Spinning Top, reinforcing the market's indecisiveness. The stock also saw a Bullish Harami pattern, which might suggest a potential for upward momentum in the near term.

Looking at the indicators, the Relative Strength Index (RSI) is around 51.38, signaling that the stock is neither overbought nor oversold, making it neutral in terms of momentum. However, the Stochastic %K reading of 26.37 and the Stochastic RSI Fast at 1.75 suggest that the stock could be nearing oversold conditions, which may signal a possible rebound in the near future.

The Average Directional Index (ADX) at 23.62 indicates that the current trend lacks strength, implying that price movements could be weak or choppy. MACD's positive reading indicates the possibility of upward momentum, though it should be noted that the Momentum indicator is negative, showing weakening strength in the trend.

Volatility is also evident, with an elevated ATR, pointing to large price swings. As far as support and resistance levels go, the stock has immediate support around 142.46 and 117.04, with resistance at 164.95 and 168.00. If the stock manages to break the resistance levels, the next critical target will be around 181.52 and 195.16.

While the stock is relatively undervalued with a low ROCE of 9.79% and ROE of 5.80%, its technical indicators suggest that investors and traders should monitor price action closely to identify the right entry points. In summary, it's crucial to watch for signs of a price reversal or further downside based on these technical indicators.