This stock (Indiabulls Housing Finance) is about to start its second chapter of rally.
Positive.
1. JV with HDFC _ Market Leader
2. Strong consolidation of 672 days, almost 2 years, with lifetime High Volume.
3. Consolidation happening in fib range of 0 to 0.23, which is also close to a lifetime low and the listing price (288.9)
4. Triangle pattern formed in consolidation indicates there will be limited downside anymore.
5. Stock is about to break weekly trendline resistance (marked in red)
6. One can accumulate up to 400 in every dip.
7. Once it breaks 400 with volume, it will be a rocket.
8. Long-term targets above 400 are T1-600, T2-760, T3- 920, T3-1150, and T5-1440.
9. Stock will show major resistance at fib level of 61.8%, strong @ 78.6% and very strong at 100%.
10. Long term target range is almost 2 years.
HAPPY TRADING from MARKET CRUX