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The Nifty Realty index was trading 0.14 per cent up at 395.55.

On the technical charts, the RSI of the stock stood at 48.22.

Siddhartha Khemka of MOFSL says that despite strong property registration data and robust cement demand, real estate and cement have underperformed the Nifty over the last few months. Domestic equities initially recovered from the Budget day lows after the concerns receded a little with regards to aggressive potential rate hikes by the US Fed in subsequent monetary policy meetings, but with the global inflation stickiness continuing, the concerns have resurfaced.

Global oil prices are coming down, refining margins are coming down, and marketing options are not as available for Reliance as they used to be. This has created some challenges for the oil and gas business in India. Also, telecom ARPU is not going up, and telecom price wars are restarting, which does not augur well for the P&L of Reliance.

India VIX was up by 8.38% from 14.77 to 16 levels on Monday. Volatility has been on the rise from the last three weeks which is giving some discomfort to the bulls. On the weekly options front, the maximum Call OI is placed at 17200 and then towards 17000 strike while the maximum Put OI is placed at 16900 and then towards 17000 strikes.

“It closed on a negative note though well off the intraday lows indicating buying interest at lower levels. On the hourly charts, we can observe that the momentum indicator has triggered a positive crossover which is a buy signal. Thus, we expect the Nifty to continue with the positive momentum which has started during the second half of Monday’s trading session for the next trading session as well,” Gedia said.

DLF, incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 91561.78 Crore) operating in Real Estate sector.

The IT sector is experiencing slower growth rates, which could lead to a correction in the current 20-multiple valuation of these businesses. However, the sector still has a long-term growth opportunity, especially in the domestic branded space. In pharma, the domestic branded space still has a meaningful decades-long growth opportunity and that is where our focus should be .

The key technical indicators are in favour of the bulls in the short-term as well as on the medium-term timeframe charts. As per the current setup, we believe the stock may keep exploring uncharted territory.

Index long-term strategy is to generate equity returns with safety. This strategy is the combination of 3 smart steps: investing money in Index as the index provides us the confidence that it will never become zero and will rise sooner or later as it is the average of the Top 50 stocks of the country, believing in "Equity + Safety = Prosperity", and trying to reduce the cost by doing Interest arbitrage.