Indian markets opened positive on Monday with NSE Nifty trading 150 points higher. NSE Nifty touched intraday high at 23,806 at the time of publication of this report. Markets are still cautious and traders are expecting selling at higher levels. Indian markets witnessed selling pressure during last week and we are seeing a technical pullback in today's session. Among mid-cap stocks that have witnessed a bullish breakout in today's session are real estate developers Macrotech Developers (LODHA), Oberoi Realty, aviation major Interglobe Aviation (Indigo Airlines) and gold finance major Manappuram Finance. TopNews has provided technical levels for short term traders as bullish breakout in these counters could lead to further upside.

Fibonacci Levels

Below is the table with Fibonacci levels calculated for each stock based on their respective high and low prices. These levels are useful for identifying potential support and resistance areas.

Macrotech Developers

Macrotech Developers, previously known as Lodha Developers, is one of India’s largest real estate companies. The firm focuses on residential and commercial real estate, with a strong presence in Mumbai, Pune, and London.

Core Business Areas: The company specializes in developing premium residential projects, large-scale townships, and commercial spaces.
Market Position: Macrotech is a leader in luxury real estate, with iconic projects like Palava City and The World Towers.
Growth Drivers: Urbanization, affordable housing initiatives, and infrastructure development are key factors fueling its growth.
Recent Performance: Despite market volatility, the company has maintained a robust sales pipeline, reflecting strong demand in its core markets.

InterGlobe Aviation

InterGlobe Aviation, operating under the brand IndiGo, is India's largest airline by market share. Known for its low-cost business model, IndiGo has become synonymous with reliability and efficiency in Indian aviation.

Fleet and Operations: IndiGo operates one of the youngest fleets globally, comprising primarily Airbus A320s. It connects over 75 domestic and international destinations.
Market Position: With a commanding market share of over 50%, IndiGo leads the Indian aviation sector.
Growth Strategy: Expanding international routes and focusing on cost efficiencies remain key growth levers.
Challenges: Rising fuel costs and currency fluctuations continue to impact profitability, although operational efficiencies have helped mitigate risks.

Oberoi Realty

Oberoi Realty is a premier real estate company in India, focusing on high-end residential, commercial, and retail projects. The company is headquartered in Mumbai and is well-regarded for its luxury offerings.

Key Projects: Oberoi Garden City and Three Sixty West are some of its flagship developments.
Diversified Portfolio: Apart from residential projects, Oberoi Realty has a growing commercial real estate portfolio, including office spaces and malls.
Financial Stability: With a low debt-to-equity ratio, the company is financially robust and poised for long-term growth.
Future Prospects: Expansion in emerging markets and a focus on integrated townships are central to its growth strategy.

Manappuram Finance

Manappuram Finance is a leading non-banking financial company (NBFC) in India, specializing in gold loans. It also offers microfinance, housing finance, and vehicle loans.

Core Business: Gold loans remain its flagship product, contributing significantly to its revenue.
Market Position: With a strong presence in rural and semi-urban areas, the company caters to underserved segments of the population.
Diversification: Manappuram is expanding its portfolio into other financial services, including microfinance and insurance.
Strengths: A high loan recovery rate and efficient operations make it a preferred choice for borrowers in India.