Cash Market | IndiaBulls Housing Finance shows a breakout-pullback trade setup

Manish Shah

The price action in India Ibulhsgfin shows a breakout-pullback pattern. Price shows a breakout of a major resistance zone at 152-155 a couple of weeks ago, and the price returned to its breakout zone. This is a breakout pullback trade setup. Price takes support at a rising 20-day moving average. A bullish Three inside-out patterns suggest buyers are in control of the counter. The weekly MACD is in buy mode. Buy for a rally to 180 and above that to 190. Keep a stop below 145.