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Emargin Positional Pick - Buy Oberoi Realty Ltd For Target Rs. 1080 - HDFC Securities

* After showing sharp upmove in the later part of Sept-21, the Realty stock has shifted into a sideways range movement in the next 4-5 weeks.

* Presently, the stock price is making an attempt to stage upside breakout of the range movement at Rs 990 levels. Hence, a sustainable move above this area could have a sharp positive impact on the stock price.

* We observe a formation of consistent higher highs and higher lows on the weekly chart and the stock price is sustaining above the crucial supports of 10w EMA over the last few months. This is positive indication.

* Weekly 14 period RSI has turned up from near 62-65 levels. Weekly 14 period DMI/ADX indicate positive pattern. Hence, one may expect further strengthening of upside momentum from here.

* The overall chart pattern of OBEROIRLTY indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.

Buy Oberoi Realty Ltd Up to 3 Months @ Add on dips 914 CMP 972.40 TGT 1080 SL 887

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