Avoid buying DB Realty: Rajat Bose

Rajat Bose, rajatkbose.com in an interview with ET Now talks about DB Realty.

DB Realty is one stock in focus. You have also got the Unitech stock getting hammered quite a bit based on news that officials from there are being questioned by the CBI. Even if you discount for the negative news around those stocks, would you say that given how much these stocks have actually been hammered down by, there is value at current levels to be buying into them?

Definitely not, regarding DB Realty because DB Realty looks pretty weak and discovering value. What happens is that when market comes bearish you discover value. Yes there could be value but then the stocks go further down to give you even greater attractive value.

So perhaps searching for value unless of course you are buying big quantities, it does not really help and even Unitech last time on adjusted price basis, it went down to something like Rs 5.50. So as of now from the chart point of view, I see Unitech if even worse things come to pass and all that further selling happens, then it can go down to something like 29. Of course as I can see on your screen that it has already breached that level. So 29 breached and sustained, then the next target is 22.