IndiaBulls Real Estate Ltd. technical chart | 29-Nov-2011

Here is a technical chart of IndiaBulls” style=”padding-bottom: 0px !important; background-image: url(data:image/gif;base64,R0lGODlhBAADAIABAP8NDQAAACH5BAEAAAEALAAAAAAEAAMAAAIFRB5mGQUAOw==) !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; text-decoration: none !important; white-space: nowrap !important; background-position: 50% 100%; background-repeat: repeat no-repeat !important; “>IndiaBulls Real Estate Ltd., listed on Indian stock exchange, with ichimoku” style=”padding-bottom: 0px !important; background-image: url(data:image/gif;base64,R0lGODlhBAADAIABAP8NDQAAACH5BAEAAAEALAAAAAAEAAMAAAIFRB5mGQUAOw==) !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; text-decoration: none !important; white-space: nowrap !important; background-position: 50% 100%; background-repeat: repeat no-repeat !important; “>ichimoku Kinko Hyo indicator.

On 27-Jul-2011, the stock closed below kumo; thus giving bearish breakout @104.95. From there it started its downward journey and touched the low of 59.05 on 24-Nov-2011.

Although it started to move some upward, but this is still not the right time to buy it. The price is still below Kijun-Sen line, kumo and Chikou-Span (CS) is also below kumo. There is NOT even a single sign of positive in this chart. So, stay away from it.

Resistance levels: 69.20, 71.87, 78, 92.47

Support: 59.29

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• Sanghvi Forging & Engineering Ltd. Technical Chart | 30-Nov-2011