Sukhani upbeat on Indiabulls Real Estate

Sudarshan Sukhani of s2analytics.com is upbeat on Indiabulls Real Estate.

Sukhani told CNBC-TV18, “Real Estate has been doing good things. We are suggesting three companies in real estate and they are Indiabulls Real Estate, HDIL and Prestige Estates Projects. Indiabulls Real Estate is making new highs for this uptrend and that is good news. Real estate is likely to be the favourite of any index rally that begins or a rally that starts from 5,900. So this is a buying opportunity. Even HDIL and other real estate stocks should be considered for going long in spite of the rallies we have seen. But I think Indiabulls Real Estate is probably a more appropriate instrument if we have to select one.” He further added, “Power Finance Corporation is a in a trading range but it is inching upwards and that is the case with Rural Electrification Corporation (REC) also, the range has developed after a rally. Once it breaks the trading range then the chances are that it will embark on a strong upward momentum. There is a day trade when we assume it’s moving up and building on yesterday’s strength and also a position trade, which we can carry if it closes well.”