Go long on Indiabulls Real Estate above Rs 70: Kulkarni
One can go long on Indiabulls Real Estate, if the stock is crossing the level of Rs 70, says Shardul Kulkarni of Angel Broking.
One can go long on Indiabulls
Real Estate , if the stock is crossing the level of Rs 70,
says Shardul Kulkarni of Angel Broking.
Kulkarni told CNBC-TV18, "Indiabulls Real Estate has given a very strong reversal pattern on the daily chart. The stock has tremendous resistance on the upside at around Rs 70. So long as Rs 70 is not crossed in case of Indiabulls Real Estate, I would not think of going long."
He further added, "Another case wherein you saw that the stock corrected was Delta Corp . It was clearly giving a very strong signal on Friday that the stock can give a good breakout but Rs 76 yet again proved to be an important resistance and now the stock is trading at that particular resistance. So I think the move in the index is very important before one take positions in individual midcap counters."
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Source:http://www.moneycontrol.com/news/stocksviews/go-longindiabulls-real-estate-above-rs-70-kulkarni_784570.html
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