PURAVANKARA LTD. Re-Recommending Strongly For Mid & Short Term Traders & Investors

PURAVANKARA LTD.

CMP : 88.

VIEW : SHORT TO MID.

STRATEGY AND UPDATES: for members only

This stock was recommended before a couple of months around 70 levels after we came out with a complete coverage on all about 50 odd real estate listed stocks on Indian bourses, this was one of our top 10 picks. After Sobha Developers reported excellent numbers and a good upmoves in prestige estate, kolte patil, and other couple of quality midcap names, now everyone has suddenly started to become interested into these almost oblivious and forgotten names of real estate. 
Soon, after the RERA was announces and also after the noteban, we sensed a great opportunity in many realty stocks, many, not all. We strongly recommend to stick with quality and firms which have topline, and bottomline strength and scope for growth. Many stocks have started running in this space which are only based on speculation and nothing. They will fall back. Hundreds of our members of SERVICES FOR INVESTORS took benefit of our real estate report (see our old post on this blog or facebook posts) and enjoyed benefit of early buyer advantage.

TECHNICAL PICTURE:

As you can see after the 2008 stock market crash, this stock suffered the same fate as many of its counterpart stocks in real estate segment which is to go only one way down and remain there for almost a decade now. However, noteban, election of modi government, GST and finally RERA is bringing huge dimention shifts for some of this midcap, mid sized players.
The stock has been in a range 100-40 for a long time. It looks like it will break above 140 which is its last high since the crash of 2008 (life time high is above 500). Our research says the stock will first double from here, i.e. go to 160 which will become break out from last many years downward trend and then start a safe upward journey which will eventually take it to its previous life high and then it will correct a bit from there.

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This is only a brief of a full report. It is possible, that we have already given this stock recommendation to our clients, or will give it in future, and may exit/reenter as per deem fit to us, updates of which are not possible to give every time.

Research in stock market, about companies is subject to change on day to day basis due to news and developments etc.

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