We recommend a buy in the stock of DB Realty from a short-term perspective. It is evident from the charts of the stock that after registering a life-time low at Rs 47.5 on October 3, the stock changed its trend triggered by positive divergence in daily as well as weekly indicators and oscillators.

Ever since the stock has been on a short-term uptrend backed with good volumes in the advance sessions. Last week, the stock sky rocketed 26 per cent with good volumes breaching its immediate key resistance at around Rs 69 which has turned into a significant support currently. Holding above this support, the stock advanced 3.5 per cent on Wednesday, which has reinforced the short-term uptrend.

The stock is trading well above its 21- and 50-day moving averages. The daily RSI is featuring in the bullish zone and weekly RSI has entered into the neutral region from the bearish zone. Daily moving average convergence divergence indicator is hovering in the positive territory signalling upward momentum.

We are bullish on the stock from a short-term horizon. We expect its up move to prolong until it touches our price target of Rs 75.5 or Rs 78 in the ensuing trading sessions. Traders with short-term perspective can buy the stock with stop-loss at Rs 71.5.

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