DLF and HDIL are the best bets in realty space, says Abhijit Paul, AVP - Technical Analyst, Brics Securities.
Paul told CNBC-TV18, "Within the realty sector Unitech is the one which has moved late. The best pick in terms of strength would be something like a DLF. But the DLF has had an excellent run. It's kind of stretched."
He further added, "The second and third best would be an HDIL, because that stock at current price which is quoting at Rs 85.50. In terms of risk it suggests the fact that this stock can actually inch further up and on the upside the next level for the stock would be close to Rs 90 that's from a short-term point of view. But if you extend the horizon a bit close to Rs 110 it's that level for the stock which is very much likely because the kind of the basing out pattern that this sector has done, not to mention the fact that the cash market volumes have been extremely high. So apart from DLF, HDIL would be my best pick."
"Most of the large cap stocks had an excellent run. Amongst the auto stocks Tata Motors is one which had an excellent move, but it's kind of reached dizzy heights and it seems that the stock is right for the correction on the downside now. So that's one stock to keep a watch from a contrarian short point of view."
