Feb 18, 2013, 11.17 AM | Source: CNBC-TV18
Sell Indiabulls Real Estate, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Indiabulls Real Estate pulled back on Friday but I would still be a seller in it because unfortunately it has broken down from a visible distribution pattern. So, any rallies that we see are relief rallies. We just need to be patient for these rallies to exhaust themselves and sell it."
At 10:58 hrs Indiabulls Real Estate was quoting at Rs 71.45, up Rs 0.55, or 0.78%. It has touched an intraday high of Rs 71.85 and an intraday low of Rs 70.50.
The share touched its 52-week high Rs 83.90 and 52-week low Rs 46.30 on 22 February, 2012 and 04 September, 2012, respectively. Currently, it is trading 14.84% below its 52-week high and 54.32% above its 52-week low. Market capitalisation stands at Rs 3,029.56 crore.