With the ongoing crises housing finance
companies are under selling pressure. Stocks like India Bulls Housing Finance
has been witnessing a steep fall from past 5 consecutive trading sessions and
even in today’s session it has cracked by 9% with no sign of positive attempt.
Was it possible to predict this fall? Below is
the chart published in our daily report the “The Financial Waves short term update” on 11th September 2018
where we were able to capture the move on downside.
India Bulls
Housing Finance 60 mins chart: Anticipated as on 11th September,
2018
Happened:
Wave analysis:
Anticipated: India Bulls Housing Finance has failed to close above previous weekly
bar’s high from past 4 weeks. This shows that the stock is under major
distribution so it is best to adopt proper risk management strategy.
As shown on daily chart, India Bulls Housing Finance has been going
through Complex Correction pattern from start of 2018. Currently wave (x) has
completed on upside indicating that a set of correction is still pending on
downside….
As shown on hourly chart, prices have reversed from its resistance
trendline. Wave b has completed on upside and currently wave c is ongoing which
is impulsive in nature. Also its 30-peridos EMA is acting as resistance which
keeps the tone bearish. In short, trend for India Bulls housing remains
negative.
Happened: This
stock has moved as expected, it broke the lower trendline of the channel as
well and simply collapsed. Our downside target was near the channel but anyways
the direction we have been betting on was perfectly in sync. We have been
bearish on this stock for quite sometime from near 1300 levels. This shows how
precisely the Elliott wave technique works.
To know the detail research get
access to “The Financial Waves short
term update” also know how further the down move will continue on Nifty 50
index along with stocks where you can create long or short positions. Get access here
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