Real Estate Stock to Buy for Medium-Term Gains

The real estate sector is moving identically with the Indian markets in the recovery phase. As Indian markets have made a rapid recovery after a sharp fall, the real estate sector has also shown a rapid recovery. One of the leading stocks that is contributing to the recovery of real estate is Oberoi Realty. In the past trading sessions, the stock has been surging positively to the upside. Prabhudas Lilladher, a very well-known brokerage firm, has given a buy call looking at the technicals of this real estate stock.

Outlook on Oberoi Realty

Oberoi Realty is one of the leading real estate stocks in the real estate sector in India with a market capitalization of Rs. 37,782. The current market price of the stock is 1038.20 and it is up 1.92% on August 8, 2022.

The technicals of Oberoi Realty stock

According to technical analysis, the chart of Oberoi Realty looks good on the daily time frame. The stock is in an uptrend in the higher time frame.

Here are the technical indicators positions on the daily time frame: The RSI has been holding above 60 for the past few days, which is a good sign. The price on the chart is above 50 and the 200 moving average, and the stock is making a bullish harmonic pattern known as the shark pattern.

Buy Call by Prabhudas Lilladher

"The stock is in a strong up trend and has recently given a correction. The correction landed on the channel support and turned up. Buy for a target of 1125. The stop is at 995.", says Prabhudas Lilladhar in a recent report.