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Indiabulls Real Estate: Wait for the handle

Long
INDIABULLS REAL EST (NSE:IBREALEST)  
daerontrading  
NSE:IBREALEST   INDIABULLS REAL EST
Trend Analysis Chart Patterns Wave Analysis indiabulls indiabullshousingfinance indiabullshousing
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trendanalysis chartpattern waveanalysis indiabulls indiabullshousingfinance indiabullshousing
Looking at the parabolic recovery and the formation of a cup followed by steep rejection from 125 levels, this stock is probably awaiting the formation of a handle which will confirm its bullish break out. RSI has just been rejected from 72 levels which is suggestive of some short term bearish trend till 100-112 price range. Buying can be done just above 100 levels for a target of 150. BUY ONLY WHEN UPTREND IS CONFIRMED. SL 2% from your price of entry

Risk-o-meter Moderate

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