Long
INDIABULLS HOUSING STRUCTURE BASED COUNTER TREND BUY OPPORTUNITY
INDIABULLS HOUSING STOCK HAS BEEN ON BEARISH TREND ON DAILY CHART SINCE JANUARY-2018. STOCK HAS NEVER SAW ANY SIGNS OF BULLISH REVERSAL ON DAILY TIME FRAME. STOCK HAS BEEN TRADING IN A TRIANGLE (H-4 AND LOWER TIME FRAME) SINCE LAST ONE MONTH, WHICH SUGGESTS INDECISION OF TREND IN LOWER TIME FRAME. WE CAN PREDICT THAT IF STOCK BREAKS TRIANGLE PATTERN TO THE UP SIDE ON H-4 OR LOWER TIME FRAME IT MIGHT GO UP TO INR 160 TO INR 180 (RETEST OF PREVIOUS STRUCTURE OF SUPPORT, WHICH MIGHT ACT AS RESISTANCE NOW) AND FROM THERE STOCK MAY CONTINUE IT'S (FREE FALL) DAILY BEARISH TREND.
BUY ENTRY: INR 110 TO INR 115 (WAIT FOR STOCK TO BREAK AND RETEST THE TRIANGLE)
STOP LOSS: INR 72
TARGET-1: INR 130
TARGET-2: IINR 160
BUY ENTRY: INR 110 TO INR 115 (WAIT FOR STOCK TO BREAK AND RETEST THE TRIANGLE)
STOP LOSS: INR 72
TARGET-1: INR 130
TARGET-2: IINR 160
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