Buy Indiabulls Housing Finance: Chandan Taparia

Chandan Taparia of Anand Rathi told CNBC-TV18, "Indiabulls Housing Finance is making higher-top higher-bottom formation, adding built up of long position and making an attractive narrow range formation. Holding above the current level may take stock to 3-4 percent higher on immediate basis. That is why we are recommending to go long on Indiabulls Housing Finance with the stoploss at Rs 488 for the upside target of Rs 520."

At 13:29 hrs Indiabulls Housing Finance was quoting at Rs 497.05, down Rs 0.80, or 0.16 percent. It has touched an intraday high of Rs 506.85 and an intraday low of Rs 493.70.