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Technical Analyst, Sudarshan Sukhani feels that there is more downside in real estate stocks.

“There is more downside in real estate especially when you look at Unitech. DLF is slightly superior in the sense that it is a leader in the entire real estate group. But Unitech suggest that the upside is over, it is making a bearish pattern and if it breaks down it means if we see a second correction in the broad market almost all real estate stocks will collapse from their support levels and look for much lower levels. So the risk here of buying is much higher than of selling. A small breach of support will push it down while we need much more push to take it forward.”

Disclosure: Analyst has delta neutral positions in Nifty and investments in shares.

Source : MoneyControl

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