Tuesday, November 29, 2011

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

Here is a technical chart of IndiaBulls Real Estate Ltd., listed on Indian stock exchange, with ichimoku Kinko Hyo indicator.

IndiaBulls Real Estate Ltd. technical chart
IndiaBulls Real Estate Ltd. technical chart

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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