. IBull Housing was supposed to take the downtrend after "rising wedge" pattern breakdown, on Friday (16/4). But it consolidated around 165.5, where it creates a strong support after. . Trade only when after the trendline cross-over. . Targets - 168.6, 173, 191.75 . Stoploss - 164, 163,161 (Depending on your trading value)
Positive Side: 1. Perfect Bullish movement ahead after the cup and handle pattern. 2. Target is too high without any resistance after 1400pts. Steady approach for a 100pts profit. Negative Side:' 1. Beware of the monday bloodbath. So, wait for the trendline to break.
POSITIVE SIDE: 1. If the market starts with a bloodbath as it happened for the last few monday, we can expect PVR to turn bearish. Corona lockdown is another such indication for the bearish movement. 2. Wait for the support break. Most probably it has to break when the market starts with a bloodbath. 3. Target 1 is a easy reach. If the moving average 20 & 50...
Still its unclear whether Ibull housing will see a reversal tomorrow. The "Bat pattern" indicates it should take the reversal at the current position. Maybe the trendline which follows can give a confirmation. Lets wait for the trendline breakout for a huge profit.
Tata Motors is in a "neutral" investment strategy. . It has a very strong support at 307.45. So most probably it will take the uptrend, if the market stays green on monday. . Follows "Rising Wedge" pattern. So, if the breakdown happens at 307.45 with strong volume, it can take the downtrend.