Note: This is for educational purpose only.
There seems to be a bullish engulfing pattern at 21 EMA. 21 EMA above 55 EMA and both sloping upwards signifies uptrend. Bullish engulfing is supported by good rising volume. RSI above 60 indicates bullish momentum too.
Prestige has seen good amount of volume buildup in past couple of days.
A rounding bottom formation is visible clearly in charts. Now price has broke out of the neckline of bottom with good volume.
There is a gap between 260-278 which needs to be filled. SInce price is near these gap price levels, expected to fill by a quick price rise.
Short term Target 1:...
Almost all the sectors have recovered post march downfall but nifty realty yet to recover.
This sector started reacting from a very strong buying zone, some of the stockes like Prestige, Sobha, DLF started showing upmove. keep an eye on realty stocks for good returns in coming days.
Below are the realty stocks with their weightage-
Godrej Properties Ltd....
WE CAN CLEARLY SEE THAT IT IS RESPECTING CHANNEL AND IT HAS MADE DOJI CANDLE AND TRYING TO CLOSE BELOW UPPER CHANNEL LINE ONCE BLUE LINE IS TAKEN OUT N CLOSING BASIS IT MUST FALL TO LOWER CHANNEL LINE GOOD LUCK
TRADE AT YOUR OWN RISK
Another stock that showed up in weekend scan.
I'll be keen if price sustains above 220-225 zones. Can be an interesting play there.
A long here with SL below last week's low can be considered. Will review during the week.
Oberoi realty has quite a brand name in Mumbai and its projects always attract a premium. After a great annual result with over 50% sales increase the price zoomed 17% in one day. The stock continued to show strength with steady increase reaching 360 levels. That is a annualized 70% return. However post demonetization saw a strong correction retracing to 260...