Oberoi Realty Limited

Buy - OBEROIRLTY

CMP (NSE) 15:58, 16 Sep

771.05 -5-0.64%

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Sector

Realty

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Reco. Price

414

Period

1-Year

Target Price

494

upside

19%

Stop Loss

359

Last updated on

12 Sep, 2017

“Symmetrical Triangle breakout”


 
Oberoi Realty is trading in a strong higher top higher bottom chart structure. Analyzing the longer time frame, on weekly chart, the stock has given a strong recovery from its recent low of ~ Rs 335 by forming a bullish hammer candlestick chart pattern. The stock has also given a continuous Symmetrical Triangle breakout above the ~ Rs 406 mark, indicating a continued upward momentum. Tracking the recent trading activity, the stock is continuously forming long positions with rise in delivery volumes and has given a bullish cross-over signal on MACD indicator. Moreover, with ADX Index reading above 25 mark along with +DI > -DI, further accentuate our positive stance on this stock. The stock has a potential first target of Rs 494, translating into ~19% returns.
 
Based on the above evidences, the projection of the structure indicates potential target of Rs 494, translating into ~19% upside. The breakout would stand void if Oberoi Realty Limited breaks below Rs 359 on closing basis.

Index vs Stock Relative Chart

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