Indiabulls Real Estate is one of the most resilient stocks in the Indian stock market. It has not gone up in last 3 years due to weak economy, but the stock bounces back from lower levels, making it one of the best buys on all major corrections. Above 50, the stock can test 70 and 80, which is very good return.
CMP = 13
Soul Redemption = 31
Alive to fight another day, another time = 37
Home coming = 51
Revitalized = 72
Last of short sellers decimated = 93
Nirvana, full circle completed = 169
While the bullish rally of Nifty hitting lifetime high 6700 is welcome, and it has given good profits on long-positions on beaten down stocks like SBI, DLF, etc, the concern is that Nifty is now rising while momentum is falling, and the momentum of the current rally is still lower than the momentum of Nifty rally in Sep 2013. Life time high with lower-grade momentum is not a good sign. Conclusion: unless momentum picks up in April, Nifty may come down to 6300 in April.