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Praveen Gurwani
Anil Manghnani of Modern Shares & Stock Brokers is of the view that even with the carnage that realty stocks have had, the monthly charts are still showing some signs of strength compared to the rest of the market.
Anil Manghnani of Modern Shares & Stock Brokers is of the view that even with the carnage that realty stocks have had, the monthly charts are still showing some signs of strength compared to the rest of the market.
Manghnani told CNBC-TV18, "When the stock is so strong and if it falls in the same month, such a steep fall like one has seen in Ansal Properties & Infrastructure or Unitech or in Mahindra Gesco, normally the monthly chart does not go into the sell so fast. Even with the carnage that these stocks have had, the monthly charts are still showing some signs of strength compared to the rest of the market. The bounce is going to be as fast. If one is looking at the levels, for Unitech the first level would be around Rs 10,600 and then might go to Rs 12,200."