Chandan Taparia negative on HDIL, may test Rs 85

Chandan Taparia, Derivative & Technical Analyst at Anand Rathi Securities told CNBC-TV18, "We have a negative view on Housing Development and Infrastructure (HDIL). We are continuously negative on all the infrastructure and the real estate counter except IRB Infrastructure Developers."

"HDIL is continuously trading in a range of Rs 100-285 levels. The stock is finding some pressure near to the Rs 100-102 zone and also writing seen at 100 strike which is indicating that it is tough to close above Rs 102 levels. We are also negative on DLF. It already corrected 10-12 percent in this series and that is why we are taking HDIL now. Keep a stoploss at Rs 102 in HDIL and play for the downside target of Rs 85," he added.