Swing Opportunity in Indiabulls Housing Finance
Go Long above 238.1 for Targets of 251.6 and 265.1 with SL 224.6
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
3. The stock may go till Target 2 and face resistance from Trendline (marked with red color)
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
3. The stock may go till Target 2 and face resistance from Trendline (marked with red color)
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Stock making bearish Pole & Flag pattern