Can real estate continue to scale new highs?Moneycontrol • 17 days ago
After a stellar year, real estate stocks are quoting still higher, raising concerns over valuations
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DLF formed long bullish candlestick pattern on the daily timeframe with higher volumes. It has completed recouped its March losses due to buying in last few days, and traded above all key moving averages.
DLF, a prominent player in the real estate sector, emerged as the top donor with a contribution of Rs 180 crore, including donations from subsidiaries
Motilal Oswal recommended Neutral rating on DLF with a target price of Rs 850 in its research report dated March 11, 2024.
While some analysts and investors are still digesting the data and reading between the lines, here is a handy summary of the key trends which shaped India Inc’s Q3 show.
State Bank of India formed bullish candlestick pattern on the daily timeframe, though the volume was below average. The stock traded way above all key moving averages and maintained higher highs, higher lows formation since October 2023.
Traders should keep a close eye on key support (21,500) and resistance levels (22,000–22,100) and remain flexible in their trading strategies,
DLF stock is demonstrating a bullish trend, consistently forming higher highs and higher lows.
Motilal Oswal recommended Neutral rating on DLF with a target price of Rs 740 in its research report dated January 27, 2024.
During the April-December period of the previous fiscal, the company's sales bookings stood at Rs 6,599 crore.