Realty stocks weak, avoid DLF: Mitesh Thacker

In an interview with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on DLF.

DLF, 201 now, is there an initiation of a trade here or for somebody who is short, is the message to stay onto the short with a trailing stop?

The entire real estate pack has not been doing well for the last few days. What we saw was that DLF on its own was outperforming the other stocks, so I would look for the other stocks in the real estate basket who have not really performed, not participated well. Talking particularly about DLF, 190-192 is a good support but going on the short side, I would look for HDIL, which has just made a new swing low, Indiabulls Realty was a sell call a couple of days back against the DLF buy call. Sobha Developers is one stock, which is given a fresh breakdown today making newer swing lows, so these are the stocks I would focus upon on going short. DLF probably at 190-192 if it breaks those levels maybe, you would want to initiate some kind of fresh short over there but for the time being, DLF has been the stronger of the realty pack, so yeah, this stock probably would be more rewarding.