Indiabulls - Stock Prices Climbed More Than 80%, Uptrend in Spotlight

  • Stock Market Analysis

Indiabulls Housing Finance Ltd (NS: INBF ) stock prices have rallied more than 80% so far, since the month of April 2021. The Uptrend is very clear and obvious on the 4h chart. Will this momentum continues even further? Well, there are Possibilities!

Take a look at the Price Action Analysis.

Price Action Analysis of India bulls Housing Finance Ltd. 4H chart.


We can notice the turning point from the mid of April, stock prices began to shoot up from 160 onwards. In the trend we can witness multiple pullback setups, after each consecutive pullback, stock prices rallied nearly around 20%.

On the 4th of June 2021, Prices broke the long-standing Resistance zone at 250. After the Breakout, prices quickly retested the level and formed a Minor pullback pattern.

Looking at the Price behaviour, we can notice a Clear Uptrend in India Bulls Housing Finance, a trend which has rallied more than 80% so far, from bottom to top. From the perspective of Richard Wyckoff, this is what he calls a Mark-up Phase.

Along with the Uptrend, we can also witness a steady increase in the Trading Volume, which technically means more Orderflow is coming into the markets.

Considering all these factors, there are possibilities of the trend continuing even higher; maybe the Stock prices could touch 300 and create a pullback and then continue higher. On the other hand, if Sellers begin to take control of Price Action, then Prices might once again test the previous resistance zone at 250.

If you like to take Volatility and risk in your positions, keep this stock on your watch list and trade according to developing Price Action.

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  • Sourabh Toshniwal @Sourabh Toshniwal
    these are trading stock and not holding....LIC housing ...pnb housing and India bull housing all three
    Like 1
  • Himanshu Sharma @Himanshu Sharma
    goog
    Like 0
  • Ajit Pardeshi @Ajit Pardeshi
    technical is fine but what has fundamentally changed in their business that people are willing to pay double what they were paying a month ago for this stock? profits doubled? I am happy to pay this price if someone convinces this is the fair value price. otherwise it is just speculation upon speculation.
    Like 6
    • Raghav Joshi @Raghav Joshi
      6. The company in past 1 year, have restructured their business models and now they have shifted to asset light model(which was the issue back in 2018 ). The result of which we will see in upcoming qtrs.And this model is attracting FIIs & DIIs as they both are buying stakes(check the bulk deals).
      Like 0
    • Raghav Joshi @Raghav Joshi
      7. The last thing, the management. It was the same management that made there stock enter into Nifty 50. Gagan Banga did his best to save the company in past 2 years and now the company is entering the growth trajectory
      Like 3
    • Ajit Pardeshi @Ajit Pardeshi
      @Raghav Joshi good points, thank you.
      Like 1
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  • Siddharth Chavan @Siddharth Chavan
    Gamestop frenzie. Soon will come to an end.
    Like 1
  • Sandeep Garg @Sandeep Garg
    Informative !
    Like 2

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