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HDIL has support at Rs 82: Ashwani Gujral

This article was posted on Jan 20, 2009 and is filed under Press Releases

Technical Analyst, Ashwani Gujral is of the view that HDIL has support at Rs 82.

Gujral told CNBC-TV18, “Everything has a defined range even the real estate stocks although they may seem like they are moving without any reason. DLF Rs 165 those are sort of panic levels, where if you can get in, you could probably trade it upto Rs 260-280. Unitech each time it gets to those Rs 25-26 levels- if you buy out there you will probably get a move upto Rs 34.

These are very high beta counters, so the moment Nifty starts to move up a lot of these stocks tend to see short covering. Because basically on a net basis probably the downside now isn’t there but surely they are in ranges and they will move up and down with the market. HDIL support is around Rs 82 and in a good market you could find levels as high as Rs 160-165 on this.”

source: Moneycontrol

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