Buy IIFL with short term target of 830

Apr 30, 2018

IIFL

The stock tested highs of 874 and since then has been under a corrective retracement. It has tested 100-DMA levels twice and is seen taking support and bouncing back from this significant support area. A buy signal has emerged over Stochastic on the Daily Charts. RSI is seen forming a higher bottom and is seen inching higher showing a bullish divergence against the price. On the Candles, a candle with a long lower shadow emerged near the support are of 20-WMA. Some pullback and upward revision in prices cannot be ruled out.