OBEROIRLTY trade ideas
oberoi realty , imp levels to look forstock is in downtrend making lower lows & lower highs
cmp - 486.8
resistance 495
buy if close above 496 , can goto 510, 510
short if close below 485 can goto 480, 465, 455
Buy OBEROIRLTY with short term target of 620NSE:OBEROIRLTY
Multiple signals have emerged which point towards upward revision of price in this stock over coming days. While Daily MACD stays in continuing buy mode, Weekly MACD has reported a positive crossover. It is now bullish while trading above its signal line. RSI stands neutral and is seen breaking out of a pattern formation. On the Weekly Charts, the prices have closed a notch outside the upper Bollinger band. Apart from a minor pullback inside the band, a breakout on the upside is very much likely. On-Balance Volume – OBV has marked a fresh high on both Daily and Weekly Chart.
Bearish On Oberoi RealtyDouble Top formed with -ve divergence, breach of +ve trendline may fall upto 400 levels
OBEROI REALTY Channel BreakoutOBEROI has been moving in a channel . After a huge leg up yesterday, its testing the upper edge. Awaiting a breakout or reversal.
Its still respecting the LIFETIME CHANNEL--> Hit the play button in the post below
OBEROI REALTY Lifetime BreakoutOBEROIRLTY is retesting the lifetime high it made recently. Moving in an up channel, its near the edge of it. Awaiting a breakout/reversal.
Oberoi Reality - Doubletop spinning top swingAs mentioned in charts, Aiming if swing retraces back as anticipated and bearish momentum continues::
Short - TP = 410, 405, 390, 388 and beyond (if breakdown)
Take SL as per risk appetite
The retracement also derives strength from %William also showing downtrend and also from bearish MACD crossover..
NOTE: The company appears good from fundamental prospects so aim for long if bullish momentum continues thereon after reversal from bearish support..
www.screener.in
Long term Fundamental Stock OberoiOberoi 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 levels in 11 trading sessions. After which the price is showing a slow but steady rise.
Fundamentally the stock is great with an CAGR of 20% over 10 years and a slew of under construction projects in Mumbai. Also they are extending to Noida and Bangalore. Technically at the current levels both the MACD and Stoch are showing oversold. This is a good opportunity to begin adding this to your portfolio. Recently there has been a number of bulk purchases in the open market.
I believe, in the next 2 years real estate stocks such as Oberoi will give excellent returns.
