Parsvnath Developers has support at Rs 41-42: IIFL

Parsvnath Developers has support at Rs 41-42, says Amit Harchekar of IIFL.

Harchekar told CNBC-TV18, "The trend on most of the real estate stocks on a medium term chart still remains negative. Yesterday Parsvnath Developers showed some sort of resilience after it pulled back from some of the lows of Rs 38. As long as it stays below Rs 49, the trend remains very negative." He further added, "The next support zone I am seeing would be between Rs 41-42. So, that should be the area where we can expect sustainable pullback." Disclosures: We may have recommended some of these stocks to our clients, but no personal holdings.