DLF, Godrej Properties: 5 real estate stocks you can buy for up to 11% gain

40 per cent correction in Godrej Property should see a smart 11 per cent jump now, technical charts suggest

Real-estate related shares heaved a sigh of relief after the RBI left key rates unchanged even as global bankers planned a tighter policy regiment in the backdrop of high inflation. However, the ongoing geopolitical tensions at the Russia-Ukraine border impact the overall market sentiment, as a result of which the RBI-led cheer for the sector diminished.

Having said that, shares of realty stocks were in limelight on Wednesday with steady gains in an otherwise choppy market. Are you looking to invest in any? Here's what the techncial charts suggest. 

NIFTY REALTY INDEX
Likely target:  485

Upside potential:  5%

The larger outlook shows a downward trend as the daily chart structure displays a development of “Falling Channel Pattern”. The support range comes at 420 to 400 and only upon violating this band; the bearish sentiment could see an aggression. The present strength (daily chart) exhibits a revival with trend directing towards 485, the index can soar 5 per cent comfortably.  CLICK HERE FOR THE CHART

 
Indiabulls Real Estate (IBREALEST)
Likely target:  Rs 143
Upside potential:   9%

Although, Indiabulls Real Estate breached the 200-day moving average (DMA), set at Rs 143 level, the follow-up selling pressure could not receive continued support. Yes, the stock shows weakness; but a turnaround could see an attempt to break the 200-DMA on the upside, according to the daily chart. Until, a decisive weekly-close below Rs 120 does not happen, the positive bias should prevail. CLICK HERE FOR THE CHART
 
Oberoi Realty Ltd (OBEROIRLTY)
Likely target:  Rs 1,000
Upside potential:   9%

The support of Rs 850 continues to hold the negative bias for the shares of Oberoi Realty. The upside hurdle stays at Rs 1,000-mark, which it failed to overcome twice in recent times. Stability above Rs 900 might again see an attempt towards Rs 1,000 from a very short point of view.  CLICK HERE FOR THE CHART

 
DLF Ltd (DLF)
Likely target:  Rs 400
Upside potential: 8% 
 
The range of Rs 360 to Rs 350 is the breakout range, which the DLF passed through in September, 2021. The recent weakness has seen a bullish accumulation in the same range and until the selling pressure does destroys this bridge, the reversal could see a sharp jump towards Rs 400. CLICK HERE FOR THE CHART

Godrej Properties Ltd (GODREJPROP)
Likely target:  Rs 1,800
Upside potential:   11%

In the last four months, the shares of Godrej Properties sank over 40 per cent. The recent weakness has seen the Relative Strength Index (RSI) holding above the oversold territory, a signal of a bullish bias. The immediate resistance for the stock comes at Rs 1,800 with a closing basis support of Rs 1,500 level. The volumes on the positive close show a significant jump, favouring the bulls for more upside.  CLICK HERE FOR THE CHART