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 it reversed direction taking support at around Rs 55 in late March this year. This reversal was triggered by positive divergence in the daily relative strength index and daily moving average convergence divergence indicator. Since then, the stock has been on short-term uptrend. It decisively, broke through its key resistance at around Rs 67 with good volume on May 8. This up-move also breached the stock's 50-day moving average. The stock is hovering well above its 21- and 50-day moving averages. Further, strengthening the bullish momentum, the stock jumped 9 per cent accompanied by above average volume on May 11.The daily relative strength index has emphatically entered the bullish zone from the neutral region and the weekly RSI is featuring in the neutral region. The daily moving average convergence divergence indicator is moving higher in line with the stock price and has entered the positive territory implying upward momentum. We are bullish on the stock from a short-term perspective. We expect its up move to continue and reach our price target of Rs 78.5 or Rs 80 in the forthcoming trading sessions. Traders with short-term horizon can consider buying the stock with stop-loss at Rs 74 level.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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