Sell DLF for a target of Rs 245 says India Infoline Research
May 22, 2010 by admin
Filed under Brokerage Recommendations
India Infoline Limited (IIFL) has a bearish view on DLF and in its May 21st, 2010 research report has recommended a sell rating on the stock DLF with a price target of Rs. 245.
IIFL further went on to say in the research report about DLF “We retain our sell call on DLF as it is most likely to breach the support zone of Rs 270 in early morning trades. We expect the stock to take support at Rs 259, in case if this is violated the next support zone for the stock is below Rs 240. The momentum indicator is exhibiting negative divergence.
Based on above technical evidence, we recommend traders to sell the stock up to Rs 270-265. It is advisable to maintain a SL of Rs 283 for a one-week target of Rs 245-240,”
