Sukhani told CNBC-TV18, " Sobha Developers is relatively weak in two senses. Independently it’s broken below Rs 300 and when we compare it to other real estate peers like DLF, Indiabulls Real Estate, it is underperforming. So Sobha Developers is a short-term sell, it is probably an intraday sell. Sell on rallies, wait patiently and cover in the evening. For intraday traders there some points to be made, not just today but for a number of days."
He further added, "Development Credit Bank (DCB) is a buy. It has fallen from Rs 50 to Rs 38. At Rs 38 it started building a small base and now it is just breaking out of that base. The bear market which we saw in it is probably getting over. These are reversal pattern that suggests that a trend change is in the offing. If it works out there will be significantly bigger gains here. But here at this point we are looking at Rs 41- 42 and even that is good in terms of percentages."
Source:www.moneycontrol.com
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