Equity Alert: Real estate shares tumble; further downside likely
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K.Karthik Raja
Jun 9, 2008, 4:31:51 AM6/9/08
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Equity Alert: Real estate shares tumble; further downside likely
Equity Alert: Real estate shares tumble; further downside likely
MUMBAI--1:50PM--Real estate shares were down 3-8% amid concerns
interest
rates are likely to remain high with inflation showing no signs of
easing,
"Demand might slacken for realty companies if interest rates
remain high, and that seems to be the case because inflation is
threatening to rise only further after the sharp rise in crude oil
prices (Friday),"
DLF and Unitech were down 7% and 8%, respectively, while
Indiabulls Real
Estate was down 4%.
We recommend staying away from the sector, as it is likely to
weaken
further.
"DLF and Unitech looks weak and have intraday support at 469
rupees and 180 rupees, respectively. Indiabulls has support at 394
rupees and resistance
at 414 rupees
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Equity Alert: Real estate shares tumble; further downside likely
MUMBAI--1:50PM--Real estate shares were down 3-8% amid concerns
interest
rates are likely to remain high with inflation showing no signs of
easing,
"Demand might slacken for realty companies if interest rates
remain high, and that seems to be the case because inflation is
threatening to rise only further after the sharp rise in crude oil
prices (Friday),"
DLF and Unitech were down 7% and 8%, respectively, while
Indiabulls Real
Estate was down 4%.
We recommend staying away from the sector, as it is likely to
weaken
further.
"DLF and Unitech looks weak and have intraday support at 469
rupees and 180 rupees, respectively. Indiabulls has support at 394
rupees and resistance
at 414 rupees
------------------------------------------------------------------------------
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