NSE: IBREALEST : Breakout from a range with good volume ,after a long consolidation period is seen in India Bull Real Estate.

Weekly Chart

1. Breakout from a range of  approx 45-50 points after a  long consolidation period of [approx  two and half years ] is apparent on the charts.
1. Stock had seen making a base around levels of 41 -45.
2. Stock were facing resistance around levels of 80- 87.
3. Prices were oscillating around the 20 week moving average.
4. A rally that started on 23-feb-2014 from the base level of 45 , was succeeded giving a breakout from its resistance zone of 80-90  with high volume.
2. Good volume, is seen at the breakout level.
3. MACD bars are rising favoring the breakout.
4. TMF wers also seen expanding with the breakout, signalling strength in the prices.
5. Now stock is seen taking support at its resistance level which , now turned as support for any further rally in the stock.
6. The whole view will be negated ,in case prices comes back within the prior trading range [ 40- 90 ]