Feb 15, 2013, 11.37 AM | Source: CNBC-TV18
Indiabulls Real Estate has become a positional short, which means if we see a rally here we do not buy it, we go and sell it, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Indiabulls Real Estate has been a favourite for me. Real estate stocks are now cracking down. DLF is the only one left. First, Housing Development and Infrastructure (HDIL) and now Indiabulls Real Estate. Same pattern, big rally, large distribution pattern and that distribution is now breaking down.”
He further added, “It has also become a positional short, which means if we see a rally here we do not buy it, we go and sell it. Today, if the Nifty shows any sign of weakness real estate is going to maybe well hammered badly and unfortunately this one will be part of it."