Bullish MACD Crossover: Only buyers in IIFL Finance while IIFL Wealth Management trades at life highs

The shares of IIFL Finance were seen locked in the upper circuit on Thursday. IIFL Finance share price jumped higher by ~5 per cent on Thursday, outperforming the markets.

The shares of IIFL Finance crossed over its 30D EMA and 9D SMA on Thursday thus indicating bullishness in the near term.

IIFL Finance has been reporting positive results for the past few quarters with the net profits jumping higher by 740 per cent in the latest quarter.

IIFL Wealth Management share price also was seen trading higher on Thursday. The IIFL Wealth Management share price jumped higher by more than 5 per cent on Thursday to deliver an all-time high closing.

IIFL Wealth Management has also been reporting healthy results for past four quarters. The stock of IIFL Wealth Management is trading above all the key short- and long-term moving averages.

Both the stocks gained with a decent spike in volumes indicating a 'price volume breakout'. A bullish MACD Crossover was seen in both IIFL Finance and IIFL Wealth Management on Thursday. A bullish crossover occurs when the MACD turns up and crosses above the signal line. 

Both these stocks should be on momentum investors radar!