Indiabulls Real Estate may touch Rs 80: Abhijit Paul

Abhijit Paul of Alphative Advisors told CNBC-TV18, "Indiabulls Real Estate is one of those rare real estate stocks which is at a short-term uptrend and actually holding fairly okay. I sense that if Nifty manages to hold the two-day gains that it had posted, then Indiabulls Real Estate has the chance to extend further up."

"On the upside a short-term target can be close to that Rs 80 mark on the futures market. For such a short-term trade one should use a stoploss close to Rs 64," Paul said.

At 13:45 hrs Indiabulls Real Estate was quoting at Rs 69.55, up Rs 1.00, or 1.46 percent. It has touched an intraday high of Rs 71.35 and an intraday low of Rs 69.20.

The share touched its 52-week high Rs 87.30 and 52-week low Rs 52.55 on 17 May, 2013 and 30 September, 2013, respectively. Currently, it is trading 20.33 percent below its 52-week high and 32.35 percent above its 52-week low. Market capitalisation stands at Rs 2,948.99 crore.