Indiabulls Housing may hit Rs 480, says Abhijit Paul

Abhijit Paul of Alphative Advisors told CNBC-TV18, "Indiabulls Housing Finance looks excellent in the weekly and monthly charts and over the last couple of weeks the stock is buying some time within a range. The stock is trying to breakout on the upside, target comes in a range of Rs 480 and for a long trade like that one should use stoploss close to the Rs 430."

At 13:58 hrs Indiabulls Housing Finance was quoting at Rs 451, up Rs 5, or 1.12 percent. It has touched an intraday high of Rs 459.45 and an intraday low of Rs 448.50.