Short-term trend in real estate remains up: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com (Technical Check)

What is the call on DB Realty?

This is a stock that fell from a level of 130 in March to 65 in the next 2 months. After that, it has been sideways in the range of 70 to 80 and in last couple of days, it has seen a good move. I would talk of the whole space rather than DB Realty. Somehow, this news is not that negative and this is what the price action is telling me, though it is 1.5% down. The short-term trend still remains up but the medium-term trend, whether it is a Unitech or DLF, is still in doubt. I would not take a call with a long term in mind, but for a week or two. At this level, when you negative news, it is best to avoid the stock.

What about some of the other realty majors and in light of what DLF has been doing, what is the call?

I have been bullish on DLF at a level of 215-216 for a target of 235-240 which has been achieved. I would want DLF to close above 245, then we can talk of a target of 265-270, which has not yet happened but my best pick in this space would be a DLF. That is far better in terms of the charts in comparison to Unitech, LITL, HDIL. If one has to buy something in this space, it has to be a DLF and I am not that bearish in this space at this point of time. I would buy it for an investment with a 3 to 6-month horizon. A major move will only happen when DLF closes above 245, that too with volume and then we can talk of a target of 265-270, not before that.