We expect the stock to move higher towards its potential target of Rs89 in the medium term, says Hadrien Mendonca of IIFL.
Indiabulls Real Estate has been on a declining mode for the past four weeks and has finally formed a double bottom pattern on the weekly chart.
The stock has also broken out from a falling channel pattern on the daily chart accompanied with a smart uptick in traded volumes.
The author is a Senior Technical Analyst, IIFL.
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