SP Tulsian of sptulsian.com told CNBC-TV18, "Housing Development and Infrastructure (HDIL) only moves up when there is a general positive perception building up on the real estate sector, because there is no stock specific news coming in. I think that because of the weak outlook on the market, gap down opening, we are taking a negative view on the banking and real estate sector."
He further added, "HDIL continues to look quite negative and one should remain away from DLF also. In the past about a week back we have seen huge trading positions got built up when the stock moved to a level of Rs 45-46 and ahead of the expiry people do not have that kind of strength to finance the mark-to-market losses also. So I feel that stock can correct to a level of Rs 36 by expiry in next two-three days or so."
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