India Infoline Advises to Buy Indiabulls Real Estate for target of Rs 185

India Infoline has advised high-risk traders to buy Indiabulls Real Estate for target of Rs 185. “Indiabulls Real Estate is pointing to continued strength in the weeks to come as it has broken a downward-sloping trend line since early-January 2010. A detailed study of the daily chart shows that the stock has corrected from the high of Rs 236 in January 2010 to touch a low of Rs 151 last week.

On Thursday, the stock staged a smart breakout past the downward sloping trendline. This bullish breakout signals the end of the intermediate downtrend. We recommend high risk traders to buy the stock in the range between Rs 171-175 for a target of Rs 185 with stoploss of Rs 166,” the report said.

News Published Under:   Real Estate India |

Comments