Indiabulls Real has resistance at Rs 175: Gujral

Published on Thu, Apr 22, 2010 at 10:05 |  Source : CNBC-TV18

Updated at Thu, Apr 22, 2010 at 11:04  

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Ashwani Gujral, Technical Analyst

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Indiabulls Real Estate has resistance at Rs 175, says Technical Analyst, Ashwani Gujral .

Gujral told CNBC-TV18, " Unitech is headed into the resistance zone of Rs 95, so maybe if somebody bought around Rs 65 to Rs 70, he is looking for booking profits."

He further added, "Indiabulls Real Estate around Rs 150 that kind of bottomed out and it is now started outperforming real estate out here. So the next resistance out could be closer to Rs 175. Most of the real estate stocks seem to be in intermediate pullback rally which means that they are unlikely to hit fresh intermediate highs but this rally could have another 5-8%."

" Orbit Corporation has resistance at Rs 350. Once Rs 350 can be sustained only then you can see another Rs 50-60 on it,"

  

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