Avoid HDIL: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that one should avoid HDIL.

Sukhani told CNBC-TV18, “The big decline in HDIL and the fact that the decline has steam for some time is irrelevant. The big decline is much more relevant so I would completely avoid HDIL. Indiabulls Real Estate is the only stock left with me where I am upbeat. DLF’s charts are useful - they are not buying opportunities today but these are stocks that I would be looking at to buy if the Nifty starts giving signs of cheer.” Housing Development and Infrastructure closed at Rs 76.10, down Rs 4.30, or 5.35%.It has touched an intraday high of Rs 81.80 and an intraday low of Rs 75.55.There were pending sell orders of 1,673 shares, with no buyers available. The share touched its 52-week high Rs 135.40 and 52-week low Rs 62.40 on 22 February, 2012 and 24 May, 2012, respectively.Currently, it is trading 43.8% below its 52-week high and 21.96% above its 52-week low.