Monday, 17 November 2008

Buy HDIL at lower levels: Bose

Technical Analyst, Rajat K Bose is of the view that one can buy HDIL at lower levels.

Bose told CNBC-TV18, "Among all the real estate stocks, HDIL stands as the best bet there. You can buy at lower levels expecting a bounce. But other than that if you take Unitech for instance my feeling is that Unitech still has far more downside in the sense that if it were to break Rs 39 levels, then it can break the earlier low and the projections that can be made on the charts, is actually suggesting that somewhere between Rs 20-50, this sock might find a bottom, although that might sound a bit scary but that is the kind of technical projection you can make."

He further added, "If I have to trade real estate stocks at all, then I would rather prefer HDIL because that has the best possibility of giving a bounce on the upside. Although currently I would not be looking at it may be intra-day there would be a good bounce in HDIL today, but as I said that may be I would be looking at them towards the end of the week or may be early next week, then they might offer even better opportunities."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.