More downsides seen in real estate: Sanjeev Agarwal

Sanjeev Agarwal, Director, Dynamix Research and Capital Management in a chat with ET Now talks about the real estate space.

What is your take on HDIL and Nagarjuna Constructions in the real estate space?

Generally we have been very bearish on real estate and infrastructure and exactly the same has happened for most of the real estate stock. They haven't been doing well. They have been underperforming the market for the last three-four months and this space has a very limited upside so don't go for anything positive on these counters.

definitely these counter when oversold, give a little pullback or some pullback rally but that is just a relief rally nothing more than that. More downsides are seen in these counters. As far as HDIL goes till its able to close above 345 it remains in a very weak pattern and that pattern will ensured that the stock is not going to give you much of the gains and its likely to fall further.