Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "Indiabulls Real Estate has formed a very good base between Rs 56-67 levels and what we have observed during this rise in the price was almost a buildup of 15-18 percent. If one looks at this stock which has been seriously underperforming, it has started to show a very good momentum."
"Lot of short covering is possible in the stock and we may see the stock testing somewhere around Rs 74-75 levels in next couple of trading sessions. One can initiate a long position keeping Rs 63 as a stoploss," he said.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
