Go long in Indiabulls Real Estate: Sukhani

Sudarshan Sukhani of s2analytics.com is of the opinion that one can go long in Indiabulls Real Estate.

Sukhani told CNBC-TV18, "LIC Housing has been in our buy list consistently. The stock is doing very well. It rallies, then gives a consolidation of 2-3-4 days and begins a new upmove and these upmoves are tempered. They are not roaring, the 10-20 percent kind of upmoves and that should not be."
He further added, "Again it had a rally, a small consolidation and an imminent breakout from a consolidation. So we are buying just at the point of breakout. That tells us that as the stock may go to new highs we would hopefully be part of it. Non-banking financials are in very good shape, all of them. LIC Housing is doing very well. We should be with the sectors that are being favoured."
"Indiabulls Real Estate is one of my three favourites, HDIL, Indiabulls Real Estate and Prestige Estates which is not in F&O. Indiabulls had a trading range and an eventual breakout from a trading range. This is a pattern we are seeing consistently."
"This is not a market that is not going to come down tumbling. Stocks are doing this step-by-step progress. They are not going through a bubble phase. They are going to a steady uptrend. At some point all this will end, but I do not see the point coming immediately. So for Indiabulls the rally is likely to continue. After a trading range we should see good gains. Whether the gains come today or tomorrow, the trade is worth taking on the long side."