A different BULL as the name itself suggests. This stock is up by more than 15% in today’s session and again this is no surprise to us. We generated momentum call on Friday to go long on IBULL Housing Finance for a target of more than 10% and it has been achieved in less than a day. Again, Believe it? Here is the proof continue reading below-
Below is the detailed analysis of the research published under the name- “The Financial Waves Momentum Update.”
India bulls Housing Finance 60 mins chart: (Anticipated as on May 17, 2019)
India bulls Housing Finance 60 mins chart:(Happened as on May 20, 2019)
(Following research is taken from Momentum report published on 17th of May, 2019)
Momentum stock recommendation:India bulls Housing Finance
Buy Price – Buy above 728
Time Horizon –Not Applicable
Investment – 5% of capital
Target price –801
Partial Profit levels- 764
*Trail stop to cost after booking partial profits to ensure capital protection*
Refer detailed research below
Anticipated as on May 17, 2019: As shown on the daily chart, since the month of October 2018, the stock has been moving in an overlapping manner over a broader range of 880-650 levels and recently it bounced exactly from its lower range indicating a positive bias for the stock. As per the wave theory, we are currently moving in the form of wave (b) on the upside.
As shown on the hourly charts, the ongoing wave (b) looks to be forming a Diametric pattern within which wave f completed near the low of 650 levels and wave g looks to have begun on the upside. As per the Diametric guideline, wave g tends to move in equality with wave a and hence we have shown Fibonacci extension of wave a for wave g. We can expect the prices to move atleast towards 50% extension level which comes to 764 levels.
It is advisable to book partial profits at 764 levels which come to 50% projection of wave a for wave g and trail the remaining to cost to protect the capital.
In a nutshell, trend for Ibulhsgfin looks positive and can provide good trading opportunity over short term. A move towards 764 (partial profit) followed by 801 (target) is expected over coming sessions. It is advised to use strict stop of 685 just in case a sudden reversal is witnessed.
Happened as on May 20, 2019: In today’s session prices post hitting a low near 740 levels began its rally for the target of 801 and further exceeded it to make a high near 825 levels.
Nifty opened up by nearly 250 points near 11650 on back of Exit polls that it is going to be MODI AGAIN! I have been bullish on this and had been mentioning in our daily equity and monthly research published on 8th May 2019 that it is going to be MODI again and with a clear majority as markets were already discounting it.
Now the above was predicted using Neo wave analysis and not paying heed to news. Exit polls only predicting what the markets were already communicating much earlier. Still cannot digest this that it was predictable? Get access to the monthly report where we mentioned a low near 11100 – 11150 and mentioned MODI again this time. You can see the report here
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