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|
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