Indiabulls housing has formed a symmetrical triangle pattern . Basically this type of pattern gives upside breakout. So please wait for breakout. Maintain the stoploss below trendline if there is breakout. If you like my idea then please follow me on trading view.
#ibulhsgfinance Good consolidation near 200 levels with volumes supporting the up move.
Next move would be to watch out for symmetrical triangle breakout and then heading towards the next zones as shown for targets.
Trade Setup:
NSE:IBULHSGFIN
Buy Price: 200-211 (Right now 207)
SL: 179
Target: 230, 260
Disclaimer: This is for demonstration and educational purpose only.
Although it showing some improvement at this level but as a long-term view, I'll stay away till it breaches major resistance.
Immediate/Major Resistance – 340
Short Term Support –
Long Term Support – 136/74
Chart Trend - Positive
Chart Pattern –
Recommendation - Hold
Note: Overall Analysis prepared for learning purpose only.
BUY 186 TO 181,163
TARGET 213
REASON FOR BUYING:
IN THIS SCRIPT IN WEEKLY CHART HEAD AND SHOLDER PATTERN FORMED. SO WE CAN GO FOR BUY
ONCE IF NECK LINE BREAKED IN WEELY CHART MEANS NEXT TARGET UP TO
NOTE:
NECK LINE MENTIONED IN RED COLOUR LINE.
ABOVE GIVEN TARGET LEVELS ARE BASED ON WEEKLY TIME FRAME IT WILL TAKE SOME TIME TO...
