Buy Indiabulls Real Estate on correction: Sukhani

One can buy Indiabulls Real Estate on correction, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Indiabulls Real Estate is a nice chart. Like Brigade Enterprises, Indiabulls Real Estate has also done the right things, bottoming out, build a base; it is now coming out of that base. There was a big run up on Tuesday. One usually does not buy after a run up of that kind, one want the market to pause, but any pause here should be a buying opportunity. All the trades we are talking about are short-term trades."
At 11:47 hrs Indiabulls Real Estate was quoting at Rs 71, up Rs 0.40, or 0.57 percent. It has touched an intraday high of Rs 71.65 and an intraday low of Rs 69.75.
The share touched its 52-week high Rs 82.35 and 52-week low Rs 46.30 on 04 February, 2013 and 04 September, 2012, respectively. Currently, it is trading 13.78 percent below its 52-week high and 53.35 percent above its 52-week low. Market capitalisation stands at Rs 3,010.48 crore.