The share prices of Indiabulls Real Estate began a decline from the 850 level in January 2008, and since then, long-term investors have not witnessed any profits. However, this downward trajectory eventually found support around the 40 rupee price range. Over time, there have been four attempts, including the current one we are discussing here, to initiate a price rebound.

Following the establishment of a foundation at point 1, as illustrated in the chart, the first attempt at a rebound was unsuccessful. In contrast, the second and third attempts resulted in significant rebounds of approximately 260% and 150% from the base, respectively. Now, we are witnessing the fourth attempt, with the base formation occurring at slightly higher levels compared to the previous ones.

If the price manages to sustain its breakout above this base, it appears that there is potential for moves ranging from 50% to 80%.