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IndiaBulls:Pennant Formation- Possible Breakout

Long
NSE:IBULHSGFIN   INDIABULLS HOUSING
Indiabulls is gearing itself for a major breakout.
Price is in consolidation zone after a major uptrend & volume consolidated after a decline.
It has formed a Pennant structure & uptrend will continue once it breakout of the upper trend line .

Major resistance at 235-238 levels.
Entry would be above 238 once it breaks the resistance and upper trendline with heavy volume .

Target: 280
SL: 210

Comments

Believe this. i bought 2700 at 330. Cash. bt greed dint let me sell it at 348..
After that it went straight to 81. I still held it firmly. May be some good deeds. it dint sink me. I m sure this will reach 360 in months time. View the monthly chart a positive crossover is eminent. History shall repeat the best days for IBULLHSG. Lovers.
+6 Reply
@Share-e-Hind, agree. monthly chart showing 360 as a promising level.
Reply
vaniaddanki9 Share-e-Hind
Thanks for creating a hope Sir..
Reply
Axis bank bought around 1% shares of ibullhousing,also I think Morgan Stanley also bought ibh shares, but I'm not sure of Morgan Stanley, it makes me feel that ibh is safe at this rate and will rise further
+1 Reply
@sus739, Morgan Stanley has bought IBH shares. It's confirmed news
Reply
why is there hardly any movement, the volumes are totally absent
Reply
@tushi23, its just the exhaustion phase and a minor pullback from recent highs hence volumes are almost faded.
Long term view is positive, hence heavy volumes expected soon after a long exhaustion phase.
Reply
I agree, chart showing promising long. immediate target would be 260 followed by 280.
Reply
I have bought shares @ 240 , what to do ??
Reply
subhashmaseeh84 Piyush202020
@Piyush202020, hold and it get 400 tg
Reply
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