Avoid real estate space, says Anu Jain

Anu Jain, Director of Equities at IIFL Private Wealth Management advised staying away from real estate space.
 
Jain told CNBC-TV18, “None of them in real estate space are giving comfort to even say that you can either short more or you could go and buy more. So it is a stay away counter for at least another couple of days till at least the first signal of the CNX infrastructure and CNX midcap actually carries out to say okay we can do some bargain hunting at these points.”
 
“However, whether it is a chart of Housing Development Infrastructure (HDIL), Indiabulls Real Estate or DLF, none of them are giving comfort to further short because they are all severely oversold or to give even a slight trading bounce,” Jain added.