Indiabulls Real Estate Ltd (INRL) strong Breakout with high volume with price increase in daily chart.good momentum formed. Time to accumulate INRL. If it crosses yesterday high go for long. Next target 87. Thank you.
A quick view:
Good time to enter this stock.
Buy above 512 for a target of 550 with a stop loss of 465 or below. 530 levels should provide some resistance so would advise to book half your profits at around those levels.
The price has been in a downtrend and finally managed to reverse.
Now there has been a recent fall from the levels of 269 and we are about to witness a pullback.
So for the pull back to be successful we need the price to close above these levels.
We may face some rejections at 278 levels but a strong pullback should break through that level.
On a long term...
There has been a breakout of a consolidation with the average amount volume.
414 is an area of resistance that has been marked on the chart.
So if you want to go long then consider the fact that the price has just closed above the EMA200.
Above 414 would be a good point to enter this counter with a stop of below 385.
437 would be the next target and if that has...