Indiabulls Real Estate can test Rs 150: Mehta

Indiabulls Real Estate can test Rs 150, says Jitendra Mehta, AVP Institutional Equity, Edelweiss.

Mehta told CNBC-TV18, "Very strong breakout in the real estate space. I think we are seeing strong upmove from DLF and HDIL in last few weeks. IB Real Estate has just broken out today; I think that would be a good stock to look at from trading point of view. Among other names I think Orbit corporation or a Puravankara also catch our eye on the upside."
He further added, "Indiabulls Real Estate - one can look at trading long at the current price, so upside till of around Rs 150, with a stop loss around Rs 124. So that would be a very specific call one can take here. Among others I think Puravankara; one can look at an upmove till Rs 55-56." Disclosure: We would have recommended most of the stocks to out clients, so would have direct to indirect holdings in some of them.