2 Stocks To Buy From Infrastructure And Real Estate For Short Term By HDFC Securities

Indian indices amid weak global cues are down in trade in afternoon session on October 1, 2021. Nifty is down by a considerable 0.8 percent or 139 points at 17,479, while Sensex trades lower by 500 points at 58,627 points. Meanwhile Bank Nifty too is trading with a cut of over 0.8 percent, down 315 points.

Amid such a market mood, leading brokerage house HDFC Securities has suggested 2 positional calls based on technical analysis of the stock by its research experts. The stock ideas here are based on the market movements by examining historical data, like price and volume. The firm's research experts analyze data & charts for trading signals and price patterns to identify investment opportunities.

Engineers India: Buy for a target of Rs. 93 for 3 months

HDFC Securities is bullish on the counter of Engineers India and recommends it as a 'Buy' for a target price of Rs. 93 in 3 months. This is a potential upside of over 18 percent from the stock's last traded price of Rs. 78.5 per share. Stop loss suggested for the stock pick is Rs. 72.

Technical observations:

The scrip is in a short term uptrend as it has been making higher tops and higher bottoms for the last several sessions and has taken out its previous swing high of 76.3. In the previous session due to above average volumes the stock broke out of the 71-76 trading range.

As the stock trades above the 20 day and 50-day SMA, technical indicators suggest positive signals. Daily momentum indicators such as the 14-day RSI have recovered from oversold levels and are in rising mode currently. This augurs well for the uptrend to continue.

"With the intermediate technical setup too looking positive, we believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy", adds the brokerage firm

Notably, the brokerage recommends the buy on the counter in the price range of Rs. 74.5 to 77.3.

Engineers India is a top engineering consultancy and EPC company that delivers world-class projects for its clients globally. The company's services are into supply chain management, project management, construction and other specialized services.

Stock	Target price	Potential upside	Last traded price
Engineers India	Rs. 93	>18%	Rs. 78.5

DLF Ltd: Buy DLF for a target price of Rs. 469

The leading brokerage firm recommends buying the stock of realty major DLF in the price range of Rs. 417.25-393 for a target price of Rs. 469 to be realized in 3 months. This shall amount to potential gains of 13 percent from the last traded price of Rs. 414.8. Stop loss for the investment idea is suggested at Rs. 385.

Technical observations:

- Stock has formed new lifetime high on weekly chart which is positive sign.
- Higher top and higher bottom formation has been witnessed on all degrees.
- Price has given breakout and moved up sharply.
- Short term trend of the stock remains positive as it is trading above all key moving averages.
- Oscillators like MACD and DMI are showing strength in the stock.
- Plus DI is trading above Minus DI indicating momentum in the current uptrend.
" Considering the Technical evidences discussed above, we recommend buying the DLF at 417.25 and average at 393, for the upside targets of 452 - 469, keeping a stop-loss at 385", adds the brokerage report.

DLF or Delhi Land & Finance founded in the year 1946, started its real estate journey by developing 22 urban colonies in Delhi. Currently, it is the largest publicly listed real estate entity that has residential, commercial as well as retail properties across 15 states and 24 cities.

Stock	Target price	Potential upside	Last traded price
DLF	Rs. 469	13%	Rs. 414.8

 

 

 

Disclaimer:

The investment ideas are picked from the brokerage report of HDFC Securities. Investors should note that investing in stocks is risky and neither the author, nor Greynium nor the brokerage would be responsible for losses based on a decision from the above article.

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