Wednesday 5 November 2008

Sell Indiabulls Real between Rs 171-180: Mathew

Technical Analyst, E Mathew is of the view that one can sell Indiabulls Real Estate between Rs 171-180.

Mathew told CNBC-TV18, "Indiabulls Real Estate would be a clear-cut sell on rally though, I would say that there is still some more steam left and since the stock has been hammered down so much, this pullback rally could give you a target of somewhere between Rs 171-180. I would change my view that this something more than a pullback rally, if the stock is able to sustain above that huge resistance, which is there at roundabout Rs 190. If and only if the stock is able to sustain consistently above Rs 190 for a couple of weeks, then only would I change my view. Otherwise my clear-cut view in this is, sell at higher levels especially in resistance zone between Rs 171-180."

Disclosure: Analysts associate company has sold out of the money Nifty calls.

Source: Moneycontrol

Posted by Harsh at 16:24

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
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.