IBREALEST: Re-bouncing from Rounding Bottom plus PC Breakout
IBREALEST: INDIABULLS REAL EST
Technicals:
• Triggered breakout of PC-A with strong body candle on 18-Nov-22
• Taller green towers in volume indicating rounding bottom
• RSI positive divergence
• RSI entered in 60 Zone
• A Breakout confirming candle will bring Relative strength in positive
The 18-Nov-22 candle triggered BO of PC-A though there is a resistance of Midline of PC-B
Entry will be after a confirming green candle, closure above 88.50 levels
Short term target- 120, there may be some consolidation at 100 levels
If market remains strong, good chance we get target of 150 at strong run of 1st target of 120
For positional entry, SL of Closing Basis-74.45
Being at rounding bottom, margin of safety is high, good time to add for long term holding
Technicals:
• Triggered breakout of PC-A with strong body candle on 18-Nov-22
• Taller green towers in volume indicating rounding bottom
• RSI positive divergence
• RSI entered in 60 Zone
• A Breakout confirming candle will bring Relative strength in positive
The 18-Nov-22 candle triggered BO of PC-A though there is a resistance of Midline of PC-B
Entry will be after a confirming green candle, closure above 88.50 levels
Short term target- 120, there may be some consolidation at 100 levels
If market remains strong, good chance we get target of 150 at strong run of 1st target of 120
For positional entry, SL of Closing Basis-74.45
Being at rounding bottom, margin of safety is high, good time to add for long term holding
Comment:
Postpone of NCLT date lead unfavorable condition for the expected movement.
