IndiaBulls Housing Finance (IBULHSGFIN)-Trade of July
IndiaBulls Housing Finance earlier recommended had a phenomenal rise from levels of Rs 140 to Rs. 261.30. After this rise in the 5 days, it retraced back to a low of Rs. 197 and finally had closed at Rs215.25. It has made a Double Inside Day pattern which indicates volatility contraction. It has also a formed a Bullish Flag Pattern which is a Bullish Continuation Pattern Buying is advised once it crosses high of Rs 221.50. The target of the flag works out to Rs. 260 to Rs. 280. Higher pile target works out to Rs. 350 with minor resistance at Rs 320.
Stop Loss of Rs197 40 should be kept. Personal due diligence is strongly advised.
OPTION TRADE-Potential Multiplier
Buy IBULHSGFIN 240ce @ Cmp
Target1~42.80
Target 2~68.80
Target 3~84-87
Stop Loss ~11.20
BOARD MEETING TODAY WHICH CAN MAKE AWESOME ANNOUCEMENTS (after market hours) FOR COMPLETE TRANSFORMATION OF COMPANY
Members may remember that we had advised to buy this stock in January perhaps. That trade I think it was trade of lifetime when stock had risen 50% in 3-4 days and ce went up 2000%
Again last month, IBULHSGFIN was recommended at 145-160 levels. This turned out to be Trade of June as stock had crossed 250 in a week. Now once again IBULHSGFIN a strong buy
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