India Bulls Housing Finance has moved amazingly well even when market is moving in range. This stock managed to give a return more than 15 % in matter of 3 days. We have been identifying various patterns along with Elliott wave counts and Bollinger band to provide good trade set up.
Below is the chart and research published in “The Financial Waves short term update” suggesting the up move.
IBULHSGFIN hourly chart: (Anticipated as on 10th August 2020)
IBULHSGFIN hourly chart: (Happened till now)
(Following research is taken from Daily Equity report published on 10th August 2020 Morning)
On the daily time frame, the stock is moving in a complex corrective fashion wherein wave (x) (blue) of the intermediate degree seems to have terminated near 250 levels. Currently next leg of correction has begun and its internal counts are shown on hourly.
On the hourly chart, the internal count of next leg suggests to be moving in the form of Diametric pattern. Currently wave d (blue) seems to be unfolding. Prices are moving in well channelized manner. Move below the lower Bollinger band will drag prices down which could be in the form of wave e (blue). Strong close above 200 is required for short term retracement towards 210 levels.
In short, IBULL Housing Finance seems to be at crucial point. Decisive break above 200 can take prices towards 210 or higher levels whereas move below 188 levels will drag prices towards 180 levels or lower
Happened: The stock moved precisely as per Elliott wave count and Bollinger band and trading beyond the target mentioned. Prices moving higher post breaking the channel it forming higher highs and higher lows since past 3 sessions. Currently the stock is trading near 215 levels.
Get access to Intraday calls along with Elliott wave research report on Nifty, Bank Nifty, stocks and much more. Know more here
Get access to the daily equity research to capitalize the on-going trend in markets andsee yourself the methods that can help in riding the trend. You cannot miss this opportunitythat too at such crucial juncture. See the latest Independence Offer here.
Equip yourself with the necessary tools required to ride the trend by learning about Elliott wave, Neo wave theory, Time Cycles and much more. Online, register for this Masters of waves (MOW) Training now. Contact us here at +919920422202 or Register here