Above Rs 509, IVR Prime can go upto Rs 559: Manghnani

Manghnani told CNBC-TV18, "There is a clear shift now with the market having broken out, people have found a new sector. Previously in the last rally along with the midcaps it was just more or less power maybe lot of fertiliser and some of capital goods but now you are seeing capital goods is not getting much interest and power also is now slowly drifting but action now is moved clearly the hot sectors now is real estate you can add oil and gas to it. Lot of nice movements out there and then probably banking but the two frontrunners in sectorial indices wise going forward is going to be the realty space and the oil and gas and from now onwards any fall is a buy.

It is tough to say what to buy because so much is already moved but if you are talking targets of what has moved today- in Ansal Infra Rs 432 is going to be a key level. There you might find some resistance but if it can take that out then it can really continue its move quite sharply. The other one HDIL also looks quite interesting. It has still got some upside about Rs 1,145. IVR Prime is one we recommended very recently that has a potential for first Rs 509 then about Rs 559. So more than rather buying them at these levels these are targets to be watching out for on the upside. 

Disclosures: It is safe to assume that analyst and his clients may have interest in the the stock.