indiabull real estate looks bullish in medium term to long term

In monthly, round bottom formed here.
in daily, price broke out of descending triangle consolidation with increasing volume .

with sl - 188, 1st tgt - 352, 2nd tgt - 570, long term tgt - 790
Trade active: going good, till now 257. in daily, price is riding upper BB,
Trade active: in daily, price moving in a channel, recently bounced from channel support.

Trade active: price again at channel support,
Comment: price bounced from the downtrend channel support and now moving up towards the channel resistance line.
Thanks for the chart, Paramjit Ji. Knowing the fact that stock was in downtrend testing 195 from 220 levels post its result day, and now going back again to 215... where do we see IB Real Estate going? CMP is 215, would it be a fine bet to add this at CMP? The P/E and EPS appears intriguing. Please share your thoughts on the same. Thanks!
@sahilmathur, technically, at cmp the risk reward is not in favor. in daily and weekly it is in a trading range, and it pays to buy at support and sell at resistance in a range, once it clearly breaks out of the descending channel(trading range), it ll continue its long term trend, so it ll be a good buy after the breakout
sahilmathur ParamjitMahapatro
@ParamjitMahapatro, Thanks Paramjit Ji! This was helpful!!
+1 Reply
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