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Realty stocks to rally up to 12% once index decisively crosses the 200-DMA
Nifty Realty Index has risen over 13 per cent, with six consecutive closes seeking to reach its 200-day moving average (DMA). During this rally, its key constituents such as DLF, Godrej Properties, Prestige Estates Projects and Oberoi Realty outperformed by surging 12 per cent to 22 per cent.
While shares of Godrej Properties continue to trade beneath the key 200-DMA, stocks like DLF, Prestige Estates Projects and Oberoi Realty have successfully leaped over the decisive moving average, which retail community regards as a prime indicator for any investment.
If Nifty realty index succeeds to break through its 200-DMA, technically the bullish push may further trigger higher upside in realty stocks.
First Published: Apr 11 2023 | 11:31 AM IST