Tuesday, September 25, 2018

India Bulls Housing Finance: Power of wave iii Impulsive pattern!


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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