Business & Investment

Sector Spotlight: The real estate sector that is the focus.3 shares to buy when the market reopens on Friday

India’s stock market ended Thursday with a positive note. BSE Sensex closed at 58,795.09 with a 450 point or 0.8% increase. Meanwhile, the 50-share Nifty50 closed at 17,536.25, up almost 121 points (0.7%). Certain stocks such as Reliance Industries Limited (RIL) and ITC Limited have driven the market. Both stocks were traded in significant quantities.

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It was a mixed bag of Nifty Sector Index. Nine of the fifteen indexes closed positively on maturity, and six indexes settled in the red despite strong market performance. Key indexes such as Nifty Bank, Nifty Auto and Nifty Financial Services did not respond to market movements.

On the other hand, Nifty Pharma and Nifty Oil & Gas were one of the high performance indicators.

However, Nifty Realty has been in the limelight for several months now.

Technical analyst Nilesh Jain is bullish on the sector and expects a 10% increase in the December series. He also picks the top three bets from the sector and explains why these scrips are the top performers in the December series.

Nifty Realty closed today at 525.70, up almost 2% from Wednesday’s closing price. All 10 shares in the index have closed positively. The biggest winner was Prestige Estates Projects Limited. The stock settled at Rs468.90 and rose 7.5%.

Other top winners were Brigade Enterprises Limited, Godrej Properties Limited, and Macrotech Developers Limited. They increased by 3.5%, 2.5% and 2% respectively.

Jain, Assistant Vice President of Equity Research Technical and Derivatives at Centrum Broking, said the Nifty Realty Index was born out of 11 years of integration and is now improving. However, the trend is sideways and lagging behind. He sees a 10 percent rise at 550 with strong support at 510.

According to AVP, real estate stocks are recommended to buy in a downturn. He brings in three stocks that can give high returns.

Godrej Properties: Buy | LTP: Rs 2237 | Target: Rs 2400 | Stop Loss: Rs 2100 | Up 8%

The stock price of Godrej Properties has been revised from the high of Rs 2598, which was a hit in October. Momentum indicators also show a trend reversal from the strong “oversold” for the stock, Jane said. Stock prices are currently rebounding and are moving towards past highs.

Indiabulls Real Estate: Buy | LTP: Rs 178 | Target: Rs 200 | Stop Loss: Rs 160 | Up 8%

After five consecutive declines, Indiabulls Real Estate is on the rise. After the lowest swing at 150, the wider structure now looks positive, Jain said. He further stated that he is expected to test his previous swings high.

Sobha: Buy | LTP: Rs 855 | Goal: Rs 950 | Stop Loss: Rs 800 | Up 8%

Sobha Limited’s share price closed at Rs 855 at NSE today, up slightly from Wednesday’s closing price. According to AVP, stock prices are on the rise and on the rise. He sees support for 800 rupees. He said buying at a downside is recommended because of the favorable risk-to-reward ratio.

(Disclaimer: The views / suggestions / advice presented here in this article are by investment experts only. ZeeBusiness advises readers to consult an investment adviser before making financial decisions. It is recommended.)

Sector Spotlight: The real estate sector that is the focus.3 shares to buy when the market reopens on Friday Sector Spotlight: The real estate sector that is the focus.3 shares to buy when the market reopens on Friday

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