Buy OBEROIRLTY @ 1698 with a target of 1950 and a stop loss at 1575 - Choice Broking Ltd
Oberoi Realty Ltd
Buy OBEROIRLTY @ 1698 with a target of 1950 and a stop loss at 1575
OBEROIRLTY is currently trading at ?1698 and has recently broken out of a prolonged consolidation phase near key support zones, signaling the end of accumulation and the beginning of a potential uptrend. The stock has confirmed a bullish breakout from a well-defined Double Bottom pattern on the daily timeframe—an established reversal formation. Simultaneously, it has also broken out of a Descending Triangle pattern and a range breakout, further validating the strength of the ongoing breakout.
The breakout is supported by encouraging price action, with the stock rebounding strongly from lower levels and successfully crossing above its short-term EMA (20-day) and medium-term EMA (50-day). It is now approaching its long-term EMA (200-day), and a decisive move above this could clear the path for a sustained uptrend, further reinforcing the bullish structure.
The Relative Strength Index (RSI) stands at 60.21 and is pointing upward, indicating strengthening bullish momentum with ample room for further gains. The convergence of multiple breakout patterns, improving volume participation, and favorable EMA alignment all contribute to a strong bullish bias in the near term.
At the current market price of ?1698, OBEROIRLTY offers an attractive buying opportunity. Traders can consider entering with a stop-loss at ?1575 to manage downside risk, while aiming for an upside target of ?1950. This setup provides a favorable risk-reward ratio for positional traders, supported by a clear breakout structure and strengthening technical indicators
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