INDIABULL HOUSING: The stock has been trying to pullback, last couple of session witnessed a little advance, the prices didn’t pull up enough to close above the TS & KS lines on daily charts. The RSI is into bearish zone similar indication provided by MACD. A good move above 305 will only establish short term move up or else correction may persist.
After a bag correction IndiaBulls Hosing Finance is trying to move back, long positions can be considered on dips.
Probably all the bad news is priced in already, there is a huge buildup on short side. Show of little strength may result in a cascading effect and push the prices higher in no time.
Trade on the long side, utilising dips for a target of 340 or so....
Is it a co-incidence or the NSE is already well-versed with the IndiaBulls Housing Finance Ltd. Once it was out from Nifty 50 Index, the Stock has turned into a falling knife.
With Laxmi Vilas Bank (merger declaration & PCA release by RBI).. the stock has turned out to be another wealth destroyer for the investors.
Be Cautious. on Technical Front the stock has...
The Stock has been in a downward spiral for many months. It has created a descending channel on the daily chart as well as another small descending channel inside the bigger descending. 3 touches of a pattern indicate pattern completion. Here both the descending channels have completed their respective 3rd touches at the same point. We have also a Morning Star...
IndiaBull Hosuing Finance has broke major support of 555 has started new downward wave, the first support is at 470 and second is at 405.
Place Stop loss at 585.
Do your own research and if this matching with mine then you are ready to go!
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