Godrej Properties, DLF: How to trade real estate stocks post stamp duty cut

Price-volume trend indicates a further upside for realty stocks

Godrej Properties Ltd (GODREJPROP): The stock is revolving around the 200-day moving average (DMA), as per the daily chart. On Thursday, the price scaled above the 50-DMA located at Rs 883, indicating further upside in the direction of the resistance around Rs 915 levels. The significant surge in volumes with a gap-up opening also reflects the interest of market participants. The support comes in at Rs 875 levels. CLICK HERE FOR THE CHART

Oberoi Realty Ltd (OBEROIRLTY): The trend looks promising as the counter is attempting to absorb the selling pressure at higher levels. Oberoi may see more interest from investors after the immediate resistance of Rs 400 levels is taken out. The closing basis support stays at Rs 380 levels. CLICK HERE FOR THE CHART

DLF Ltd (DLF): One can observe a strong momentum above the resistance of Rs 173. The overall trend indicates a rally towards Rs 178, which also is its 200-DMA. The stock recently broke out above its resistance of Rs 150 and should move up in the sessions ahead once Rs 165 is breached. The support stays at Rs 163 levels. CLICK HERE FOR THE CHART

Indiabulls Real Estate (IBREALEST): The counter is trading well above the 200-DMA and this reflects a signal. The Relative Strength Index (RSI) has come out of an oversold condition that led to minor selling pressure in the last few sessions. At the current levels, the stock looks good and has a support of 200-DMA placed at Rs 63.60 levels, as per the daily chart. The short-term trend indicates a rally towards Rs 85 levels. CLICK HERE FOR THE CHART

 

Kolte - Patil Developers Limited (KOLTEPATIL): With a gap-up opening on Thursday, the counter is testing the resistance of 200-DMA at Rs 189 levels. Upon conquering this level with strong volumes, a fresh breakout is expected towards Rs 210 levels. The closing basis support stays at Rs 180 levels. Till the counter trades above Rs 180, the upside bias may prevail and more participants may get added with a spike in volumes. CLICK HERE FOR THE CHART

 

Sunteck Realty Limited (SUNTECK): An “Inverse Head and Shoulder” breakout indicates a rally towards Rs 340 levels. The support stays at Rs 255 and Rs 240 levels. The volumes have been subdued even as the stock is rising. The overall trend is highly optimistic. CLICK HERE FOR THE CHART