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Shares of Indiabulls Housing Finance Ltd fell as much as 8.26 per cent to Rs 622.6, its lowest since December 27, 2016.
The stock broke support at Rs 652.2 rupees, the 61.8 per cent Fibonacci retracement level of the uptrend from its September 25, 2013 low to its January 29, 2018 high.
This suggests that in the near to medium term, the stock may fall to the next support at Rs 466.08 -- the 76.4 per cent retracement level.
The trend intensity (TI) indicator at 21 suggests the stock is in a downtrend, the MACD is negative and below its signal line.
The stock was down 20.52 per cent this year as of the last close, while the broader NSE index has gained 0.29 per cent in the same period.
The stock closed Monday's session at Rs 650.00, down Rs 27.25 (-4.02%) on the BSE.
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