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Godrej Properties, DLF, Sobha: Trading strategies for realty counters

Oberoi Realty likely to stabilise above Rs 390 levels, charts show. (Representative image)
The Cabinet on Wednesday approved the development of affordable rental housing complexes (ARHCs) for urban migrants and poor as a sub-scheme under the Pradhan Mantri (PM) Awas Yojana. This initiative was first announced by Finance Minister Nirmala Sitharaman as part of the Atmanirbhar Bharat package in May. READ ABOUT IT HERE

Realty stocks, however, are trading mixed at the bourses on Thursday. While Unitech, HDIL, NBCC and DLF lost ground, Indiabulls Real Esate, Brigade Enterprises, Ansal Properties and Oberoi Realty moved up. TRACK REALTY STOCKS HERE

Here's how key stocks from the real estate sector look on the charts.

Oberoi Realty Ltd (OBEROIRLTY): The counter is likely to stabilise above Rs 390 levels. The volumes have been sluggish with technical indicators losing upward mommentum. That said, till this counter manages to hold Rs 340 on the downside, the upside bias should prevail. For now, it is likely to trade sideways. CLICK HERE FOR THE CHART


Godrej Properties Ltd (GODREJPROP): After crossing its 200-day moving average (DMA), this stock has been range-bound. The overall medium-term trend indicates a bullish phase with price heading towards Rs 930 levels. The immediate support comes at Rs 865and then at Rs 840 levels. The volumes have remained subdued, signalling flat / dull view. CLICK HERE FOR THE CHART


DLF Ltd (DLF): A strong negative reversal can be seen at 100-DMA, which led the stock to test the support of 50-DMA in the past few sessions. Till the counter trades above Rs 146, there are chances that the positive sentiment may revive. A fall, on the other hand, can take it down to Rs 130 levels in the near-term. The Moving Average Convergence Divergence (MACD) has made a negative crossover, moving downward towards the zero line. CLICK HERE FOR THE CHART


Indiabulls Real Estate (IBREALEST): The recent sessions had seen strong buying interest. This helped the counter cross its 200-DMA, signalling further positive upside. The Relative Strength Index (RSI) has entered an overbought condition though MACD does not indicate weakness in the immediate term. The stock is witnessing buying momentum. The support remains at Rs 60 levels. A rally can take it higher to Rs 78 levels. CLICK HERE FOR THE CHART


Sobha Ltd (SOBHA): This counter is showing stability now as it has manage to conquer its 100-DMA decisively. It may not show a major correction as 50-DMA holds a strong support at Rs 212 levels. The overall trend indicates a rally towards Rs 327 from a medium-term perspective. Both RSI and MACD look supportive with positive crossovers. The volumes have been volatile; however, the price is not indicating signs of weakness. CLICK HERE FOR THE CHART

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