PrasadKsh
Long

IBULHSGFIN Some strength Left

NSE:IBULHSGFIN   INDIABULLS HOUSING
NSE:IBULHSGFIN

Though IBULHSGFIN show selling in last trading session (31/07/2020) chart is indicating some strength left in this counter.

If you can see on 1H chart stock was trading on low volume from past few sessions and was in sideways trend. On Friday's trading session stock did fall with decent amount of volume (you can see on daily chart ).

These kind of manoeuvres are being created buy professional traders to fall retails in falls breakout scenario and then eat there stop loss.

If one can observe the chart of IBULHSGFIN he/or she can notice strength in the background.

Now see the close of daily candle of 31/07/2020 and ask your self a question why its not managed to close near the low. The answer is bcoz of the strength present in the background. Someone don't want stock to fall at this level. And effort of same can be seen on 1H chart.

So if in upcoming session on 1H chart any candle closes above 195 its a clear single to go long. Last support for IBULHSGFIN is at 156.

Comments

Any excellent underlying interpretation as on that day huge buying happened at the LC as u correctly said that they don't want a low closure
Reply
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