GODREJPROP

Fundamental View- Godrej Properties is a leading real estate developer in India and part of the reputed Godrej Group, known for its strong brand and asset-light business model. The company focuses on residential, commercial, and township projects across major cities like Mumbai, Pune, Bengaluru, and NCR. In FY24, Godrej Properties reported robust financial performance with revenue of ₹3,047 crore, net profit of ₹571 crore, and its highest-ever pre-sales of ₹22,500 crore, reflecting strong demand for its projects. Technical View- As seen on the daily chart, after eight consecutive positive trading sessions, the stock is showing slight correction today. The stock is holding its 55-day EMA and 50-day MA strongly, indicating a potential support zone. Today, the stock opened at ₹2267.90, made a low of ₹2264.50, and is currently trading around ₹2307.00, which is approximately 1.50% higher compared to yesterday's close. In the short term, the stock is still trading in a downtrend as reflected by the RSI hovering near 46.00 and a weak MACD structure. However, the price action suggests that the stock is likely to hold its 55-day EMA support and may enter a correction phase after the recent decline. If a pullback emerges, the stock has the potential to resume its previous bullish rally. Any small dip near current levels can be considered a good buying opportunity with a stoploss at ₹2250 for a long-term view. On the upside, the stock can retest ₹2450–₹2475 levels in the coming weeks. Warning- ***** ***** *****