Sensex

Tuesday, October 19, 2010

Fw: Real Estate: Building Momentum – Technical View

 

Real Estate: Building Momentum – Technical View

 

Technically, Real estate index has been a laggard. In this note, we have covered Indiabulls Real Estate, DLF and Peninsula Land which is likely to do well as the positive momentum accentuate the market.

 

Real Estate stocks have been underperforming the main indices in the current rally. In last one year, the Sensex gained 16.4% while the has lost 17%. Usually the sector picks up when investors consensus on broader market improves. Similar trend was observed during late-2007. If similar trend is likely to continue, then we might see the underperformance getting voided.   

 

Indiabulls Real Estate - BUY

CMP Rs206, Target Rs245, Upside 21%

 

We believe that Indiabulls Real Estate is likely to outperform Nifty and Real Estate Index in the medium term. We recommend traders to accumulate the stock between 200-208 with stop loss of Rs180, for a target of Rs245, 250.

 

  http://content.indiainfoline.com/wc/research/researchreports/Real_Estate_stocks_191010.pdf

 

 

 



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