Technical Pick - 14/12/2023

Welcome to our weekly Technical Analysis Picks, where we will dive into the world of financial markets to identify promising trading opportunities that are expected to perform well over next few days. Through the lens of technical analysis, we'll analyze charts, patterns, and key indicators to provide you with valuable insights into potential market winners.

Disc. - Not an Investment Advice, to trade with discretion.

Stock - India Bull Housing Finance

Sector - Housing Finance

Market Cap - 10,420 Cr

CMP - 213

P/E - 9.08 D/E - 2.63; MCap/Sales - 1.22; P/B - 2.9

Products / Services - Housing Finance (Distribution)

Direct Sales Team - 65%

eHome Loans - 22%

External Channels - 8%

Branch Walk-ins - 5%

Latest Quarterly Result -

​Sr No (in CRs)	YoY Growth %	Sep 2023	Jun 2023
Revenue	-0.12	2,227	1,900
PAT	3.12	298	294
EPS	1.14	6.21	6.24

Housing market in India has been in a long consolidation since decade, as a result most of the companies performed below expectations. Now as the Indian economy is showing resilience during uncertain times, we are getting some signs of housing market recovery. If this continues, momentum can return in real-estate sector.

Technical Analysis -

Technical Analysis - Cup and Handle Breakout. The breakout is still not confirmed, once the high of today's candle is broken, it will be confirmed.

Target Price - 261 (Calculated through the depth of the cup)

Risks / Stop Loss - 198

Reward/Risk - 3.14