Invest in HDIL, says Siddharth Bhamre of Angel Broking.
Bhamre told CNBC-TV18, "DLF has seen good upside move and there was good amount of long, which got formed in this run up from Rs 300 to 10% upside move. Now we are seeing some unwinding and people are now booking profits and forming fresh shorts, also we have seen activity in some of the DLF puts though not very active. So we are not very upbeat on DLF above Rs 330 levels.”
He further added, “We were liking Unitech, at Rs 75 levels we had bought call option of Rs 75 which we fortunately squared off around Rs 82. We are not seeing very significant upside in DLF from Rs 85 odd levels. So we would suggest initiating some put buying in DLF and avoid fresh long in Unitech.”
“HDIL has corrected significant and that is one stock probably one can look more from the investment point of view rather than trading. One more non-F&O stock in real estate which we like is Anant Raj Industries from investment perspective.”
Thukral told CNBC-TV18, "Among all the real estate counters, I think HDIL has gone the weakest of all the lot and if you see Friday trade, it has seen the maximum shorts built up and more on that the cost of carry has dramatically dipped down. Also the stock has broken its important support levels of Rs 295-294 which it was holding very well.”
He further added, “What we recommend to traders is that if there is a bounce back today, go short on it, we have a target of Rs 260 obviously for next 7-10 trading sessions but keep a stop loss of Rs 295 because if it bounces back above Rs 295 then it is safe but seeing a short positions the way they are added out, we feel that HDIL is heading towards south.”
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