BUY DLF Oct FUT @ Rs 419.70
Stop loss of Rs 409
Target Rs 437
Rationale:
In the current week, stock broke out from the crucial resistance of 350 and saw added significant gains after that
Stock has been consolidating for last three trading session
Realty Index looks very strong on the daily and weekly charts
Stock has seen long buildup in the current week
Stock price is also placed above all important moving average parameters
Indicators and Oscillators are showing bullish signs
We recommend buying DLF October Fut at CMP, for the upside target of Rs 437, keeping stop loss at Rs 409. =====================================
Disclaimer: Vinay Rajani is Senior Technical and Derivative Analyst at HDFC Securities. He doesn’t have position in any of the above mentioned stocks. Views are personal.
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