Long
India Bull Real Est : Flag ready to unfurl ?
Those who have not read our first report on IBREALEST, please read report appended below. It is evident from the chart that bullish flag pattern had been formed and breakout has already taken place. If you count volume , then red arrows are showing volume of pole and breakout which is quite high and gives strength to our idea of flag pattern. MACD is showing short term bullish momentum to continue. Target of pattern is 147 but we have one major resistance at 142.50-143.50 zone (38.2% retracement of bear wave from 269 to 69). We'll buy counter only in dip around 128-125 zone with stop loss below 118 for target 143.
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