CNXREALTY trade ideas
Nifty realty segment may lead the market for coming daysAlmost 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-
DLF 26.50
Godrej Properties Ltd. 22.76
Oberoi Realty Ltd. 12.31
Phoenix Mills Ltd. 12.06
Prestige Estates Projects Ltd. 8.53
Brigade Enterprises Ltd. 4.83
Indiabulls Real Estate Ltd. 4.43
Sobha Ltd. 3.38
Sunteck Realty Ltd. 2.99
Omaxe Ltd
Realty sector in recovery processOn chart see the holding pattern at a specific level. PM Aavas Yojana is inline with the Gov, targeted policy.
Nifty Realty - BreakdownNeeds to bounce tom else could go to 232 in v v quick time. Broken below the channel... Stay Cautious.
CNX Realty1) Double bottom with negative divergence on a downtrend
2) sector has been negatively impacted due to rera for last 1 year
3) News - DSP MF buying Oberoi, Sunteck and Prestige in last few months
4) Risk - Home interest likely to be volatile due to currency and oil prices
Double bottom formed in Nifty reality sector.Double bottom formed in reality sector.
W pattern or double bottom formed exactly near 0.5% retracement level
Same bottom formed in 2 times..
Very bullish sign. we can go long with same keeping same low as stop loss i.e 251.
Risk reward ratio is awesome here
Reality Sector Long -Reality Index can Bounce Back from here.
Reasons
Strong Bullish Weekly Closing at 200 EMA
Weekly Trendline Support && 200 EMA Support
Breakout and Pullback toward the Confluence Zone
One can take a positive View on Reality Stocks with Strict Stoploss. Reality stocks have corrected a lot and Risk and Reward seems Favourable to enter longs.
My Favourite Stocks are
NSE:DLF
NSE:OBEROIRLTY
NSE:GODREJPROP
NSE:PRESTIGE
Nifty RealtyJust a little more pain left maybe a day or 2 before the sector rebounds?
If the RSI breaks down again though plenty of its top players could be in for a further major beating then.
Most of its top players are at critical support. Sobha, Godrej, Indiabulls Real Estate.. #watchlist
Should be able to play this sector either way within a couple days for sure...
realty sector looks bearish in short termin daily, head and shoulder pattern formed after an established uptrend. it can easily retrace to 50% level as shown.
realty sector looks bullish for long termin monthly, round bottom pattern forming here, neckline comes around 600-610 level, after successful breakout 1000 is the pattern tgt.
so 1st tgt - 600, 2nd tgt - 1000, long term tgt - 1800.
so whole sector can be a 4/5 baggar in the next 8-10 years.
NIFTY REALITY - NEW HIGHSWhen all indices's showing weakness there is one hope for all those who want to find ray of light.
Nifty REALITY at new highs keep close watch and find new avenue of investment and money multiplier for next 1or2 yr coming from here.
CNXREALTY-crucial resistance at 292-295 many stocks such as Kolepatil,Snteck ,Purvankara broken out but close above 290 is needed on weekly base
CNXREALTY-271 -resistance around 290 and support around 242-240CNXREALTY-271 -facing resistance around 290 which is very near to 38.2% retracement of of entire down move of 534 to 124 (from 2011 to 2016)
now it can come down to 242 -240 where one can initiate buying in realty stocks like ,in the works case it can break 240 and then move toward 220 so buy partial quantity around 240
