Orbit Corporation can test Rs 150-152: Thukral

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Orbit Corporation can test Rs 150-152: Thukral

Orbit Corporation can test Rs 150-152, says Hemant Thukral, Asian Markets Securities.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Hemant Thukral See what other Experts & Brokerages are saying about Orbit Corporation See messages about Orbit Corporation Orbit Corporati BSE | NSE 30/05/12 Are Mutual Funds betting on Orbit Corporati?

Orbit Corporation can test Rs 150-152, says Hemant Thukral , Asian Markets Securities.

Thukral told CNBC-TV18, "Real estate sector has been a complete turnaround especially for the midcap side especially stocks like Indiabulls Real Estate , HDIL and the one we have picked today is Orbit Corporation. This stock has seen lot of open interest addition at higher levels and yesterday it managed to cross the 200 day moving average also which we were thinking would act as a resistance point."

He further added, "Now we are looking at target much higher from these levels around Rs 150-152 and the open interest as it just suggested has been added with the rising cost of carry, so lot of longs have been added up. So on a whole realty sector; Unitech and DLF maybe taking a breather, but I still feel the midcap realty will continue to outperform the largecap realty sector."