Godrej Properties Eyes ₹2,475 Target: SEBI RA Deepak Pal Recommends Buy-On-Dips Strategy

Godrej Properties shares rose on Monday, maintaining their momentum from last week. The stock had rebounded from a six-session losing streak on Friday. 

According to SEBI-registered analyst Deepak Pal, despite selling pressure, Godrej Properties' stock continues to hold firm above its 55-day exponential moving average (EMA) and 50-day moving average.

Technically, the stock remains in a broader downtrend in the short term, with the relative strength index (RSI) near 46 and the moving average convergence/divergence (MACD) structure still weak, Pal noted.

However, the ability to sustain above its 55-day EMA suggests that the recent dip could be part of a healthy correction rather than a reversal, the analyst added. If the support holds, a pullback could lead to a resumption of its prior uptrend.

Pal forecasts a potential 7% upside from current levels, stating that the retest levels of ₹2,450–₹2,475 can be expected in the coming weeks.

Any minor dip could be seen as a buying opportunity, he said, before cautioning that a stop loss should be set at ₹2,250 for a long-term perspective.

Fundamentally, Godrej Properties is well-positioned for long-term growth. The company maintains a healthy cash flow and moderate debt while expanding its presence in key growth markets, with a focus on premium housing.

Year-to-date, the shares have declined nearly 17%.

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