Buy Indiabulls Real Estate, HDIL, Canara Bank: CA Rudramurthy

CA Rudramurthy of Vachana Investments told CNBC-TV18, "Real Estate as a sector looks very positive to me. Yesterday if you see, markets have added a lot of open interest position in F&O and a lot of these real estate stocks look very good for positional buy." 

"I have my first buy call on Indiabulls Real Estate. This stock yesterday has given a clear breakout above levels of Rs 97-98 and also huge delivery based buying is seen with additions in open interest on the positive side. So, one can definitely look at going long on Indiabulls Real Estate, look at target of Rs 110 and have a stop loss of Rs 98 for this positional buy call."

"I have a second buy call on HDIL. This stock is in a clear uptrend. Short-term, medium-term, long-term timeframe are all looking very positive. Again, open interest addition is seen today with stock price moving on the upside. Look at target of Rs 97 on HDIL with a stop loss of Rs 84," he added.

"I have a third buy call on Canara Bank. The stock is showing signs of rounding bottom formation and has given breakout today with positive movement in the F&O market. Again, open interest addition is seen with delivery based buying also in this stock. So, look at long positions in Canara Bank for a target of Rs 340, have a stop loss of Rs 310."