IBULHSGFIN - Trading with in limit from past couple of months.
Currently its above 50/200 EMA -- and back to back strong green candles with above avg volumes on daily time frame.
Next immediate target will be 245 .. .and 260+
On downside - strong support in terms on 50 EMA and 200 EMA trend lines.
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RSI crossed 60 & looking very promising & shifting on the positive side. We can buy this stock in the price range of 219-220 and for a target of about 230 (in the next 1-2 days) in case the market supports the trend.
This analysis is purely based on price action and chart pattern.
Analysis is done on daily TF hence it may take several days to couple of weeks to reach its target. Traders can also take advantage of this analysis in intraday trades.
Analysis & Strategy along with logic is explained in image itself. Entry can be made above the high of today's candle or entry with...
India Bull Housing Finance seems to be forming a Bullish flag so far recently.
Breakout out if this, with at least 250Mn, may form Inverted head and shoulders pattern touching swing target of 260 - 290.
Targets :
Swing = 260 - 290
Short term = 360 - 400+
Medium term = 500 - 600+
Long term = 1400+
NIFTY REALTY has been bullish strong enough for it to continue.
India Bull Housing Finance seems to be forming a Bullish flag so far recently.
Breakout of this channel with volume of at least 250M would confirm it.
Targets :
Short term = 400 - 420+
Medium term = 600 - 900+
Long term = 1400+
I'm not an expert I'm just sharing my views on IBULHSGFIN for next trading day
I'm not responsible for any profit or loss this is not a recommendation.
IBULHSGFIN had a major breakdown at 180 level hit 2 lower circuits in 3 days, now on daily formed hammer at important level
can test 166/180 on upside and can resume downward journey back towards 90/75 levels
plan trade accordingly.
Indian Housing 4H Chart Clearly shows a Inverted Cup and Saucer pattern
The stock can go a up around 196-205 levels and start correcting.
And it Can fall up to 160 levels. 12-16% fall can be expected
Will update on the idea, once it gives a clear signal.
*Oops typed cup and saucer on the chart. Its handle :D
CMP 219
There were 2 failed attempts at the breakout around 250.
A tilted inverse Head and Shoulder pattern is formed.
With today's candle , the top points are also in sync forming a trend line and the price seems to be breaking out tomorrow (28/08/2020). Watch out!
MACD also looks supportive of the move.
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IBULHousing finance taking supports at 200DMA + 20EMA on daily charts. Entry is favouring risk reward with sl Being just 20 points and upside targets being 30-40 points. Have already entered through 230-250 call ratio spread (buy 230E sell 2 lots 250E breakeven 275rs)
