Long investors can consider buying the shares of Repco Home Finance (₹244.2) at current levels. The stock is making a double bottom pattern. The neckline resistance at ₹380 can be tested over the next two quarters. A decisive break above ₹380 will confirm the double-bottom pattern. That break will target ₹580 initially and then ₹750 eventually over the long-term.
Investors with a time frame of at least three years can buy Repco Home Finance at current levels. Accumulate on dips at ₹210. Keep a stop-loss at ₹110. Trail the stop-loss up to ₹320 when the stock moves up to ₹420. Move the stop-loss further up to ₹560 when the price touches ₹640. Exit the stock at ₹740.
Published on December 4, 2022
