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IBREALEST: Ready for a big move? Detailed and Broader Analysis
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In the context of the above chart you may notice the importance of 104 to 115 levels that acted as support during initial years and resistance during the 5 year consolidation and whenever got broke with high volumes has given a very good move towards the crucial resistance of 254. This is a weekly chart so I'm sharing a broader analysis. In this July month we can see a massive volume breakout after a RSI divergence and a good rally towards 170 levels. Now it's heading for a retest. First of all if you do sectoral analysis by reading up the Relative Strength of the Nifty Realty sector you may see a rise as compared to the previous years. Simultaneously It is performing in line with Nifty REALTY. Also Real Estate is expected to give returns in the near future, more and more people are inclined towards it as the returns in the prev. four years were average. It was in a indecision or a range so we may see a price hike. If you feel my analysis was convincing then pl. like, also I welcome your views. If you want to accumulate, Enter at RETEST i.e., 115 levels or start pyramiding now, can be good for the targets of 170+ and even 200+
Nota
It's heading for a Retest 👍
Penafian
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