HDIL

Stock price of HDIL has gone up 50% in 10 days.

1. Real Estate stocks showing relative strength compared to market.
2. HDIL has strong resistance in the 269-273 zone.
3. I know traders holding large positions relative to their risk tolerance or financial position
4. High beta of around 2 .
5. Quartely results on july 29
6. F&O settlement on July 30.
7. My assumption is overbought in the short term ( till expiry ) based on only 50% position limits, and only 1.5% OI increase not displaying bullish expectations.
8. Rate sensitives including banks and real estate may be in focus next week on the back of RBI Monetary policy on 28 th.
9. I would like to trade on the short side assuming a range bias at best. My stop loss around 275 given high volatility of 7%. ATR of Rs 15.