Elliott wave combined with momentum indicator like MACD, Fibonacci projection applied on IBULLHSGFIN provided very precise in forecasting ability and identifying trend.
Is there a way to forecast the up move prior it’s happening and manage to capture 20%? Yes
Now see the below chart which was published on 28th November morning before markets opened in the daily equity research report – The Financial Waves short term update
IBULHSGFIN Daily chart: (anticipated on 28th November 2019-Morning)
IBULHSGFIN Hourly chart: (Happened on 28th November 2019-Afternoon)
Elliott Wave analysis: Following was published on 28th November 2019
IBULL Housing Finance post forming its new 52 week’s low of 165 levels in mid-week of October the stock is witnessing movement on upside. In the previous trading session it closed by gaining up to 3.53%.
On the daily time frame, prices are precisely moving in the red channel. As per wave perspective wave (c)(blue) is ongoing in the form of Impulse pattern. The internal counts of wave (c) are shown in hourly charts. We have shown MACD indicator a trending following momentum indicator which shows that MACD line is about to cross the 0-line which was below since July. Further to confirm move on upside prices need to break above 285 levels on daily closing basis.
On the hourly chart, as per wave perspective we have terminated wave iii (red) of (c) near 200. Currently prices are seen moving on upside in the form of wave iv which might further retraced up to 38.2% of wave iii at 330 which also coincides which upper trend line of the channel.
In short, trend for IBULL Housing Finance seem to be positive as of now. Further move above 285 levels on closing basis will take prices towards 320 or higher levels with 235 as important support.
Happened: IBULLHSGFIN moved precisely as expected and touched the high of 376 levels and as of now. This simply shows power of Elliott wave along with Fibonacci projections and MACD indicator.