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Buzzers in the realty space
The real estate space has been buzzing quite a bit of late. For a clearer perspective on the space, C Jayaram of Kotak Mahindra Bank and technical analyst Ashwani Gujral discuss their views on how the space is currently valued.
From a technical perspective, Ashwani Gujral says that Ansal, Unitech , Mahindra Gesco and Indiabulls cannot really be traded now as they are in circuit.
He says that Peninsula Land hasn't gone up as much. "Keep a stop of about Rs 635-640, and you can probably trade it upto Rs 810."
He says that Unitech has consolidated quite well between Rs 390-400. 'The stock is now probably headed to about Rs 550," he adds.
With people coming in and buying these stocks, Gujral cautions that at some point these stocks will start falling in a similar fashion as they have risen, and one has to remember that there are no buyers when these stocks start falling.
