Hi Readers,

Not much happened in real estate  sector stocks, Post the great correction .They have not retraced much of the fall they are yet to retrace 38.2% of the fall.Which shows the weakness in them.
Dubai scare did not do much harm to them as of now but in medium term effect would be seen.

The two main stocks of the sector namely DLF and UNITECH  have almost same Elliott  counts .

They could both well be in process of making an Expanded flat .

This view goes for a toss if a new high comes in these stocks in short term.

The above chart shows the medium term view 6 months kind
In short term there could be a good long trades in both the following charts would show that .

These both looking to give good risk reward in a long trade in short term buy near to the 1 st wave low for dlf it comes near 325,And for unitech its 72 below both these rates the expected rise may not come.

Regards
Rish

Gist:- Bullish for short term bearish for medium term