DLF, Unitech and IB Real Estate are strong: Shrikant Chouhan

Shrikant Chouhan, Senior Vice President Technical Research, Kotak Securities, in a chat with ET Now talks about DLF, Unitech and IB Real Estate.

Your thoughts on DLF, Unitech and IB Real Estate?

All these 3 stocks are very strong on charts and we have seen very good run up with volume in last one month. If we go through first Indiabulls Real Estate the stock is under the formation of cup with handle and it is continuously resisting at 200 levels, if it breaks this 200 we can easily the expect the level of something 240-245 on the higher side. As you mentioned the level of 170-175 will act as a very good support for at least for next 15-20 days. So I am not expecting the market to crack down in next 15 to 20 days so it’s a very good support. If we go through Unitech, the stock is forming very good rounding bottom kind of formation and the stock is on its above its break out level of 95 so we can expect something 120-119 on the higher side. So net-net the picture is very good. For DLF the correction is there but on correction again around 360-365 the stock is very strong buy even at current levels 375 because we are expecting the target to something 410-420 on the higher side in the near term.