DLF Stock for Intraday Trading Today: Sell DLF Near 186 for Target 181, Technical Analysis Suggest Short DLF

DLF stock has given nice closing last Friday and we believe that stock must see some pullback and selling must continue to pull the DLF stock towards the 180 levels today. So we will advice intraday traders to enter the short positions in DLF near 186 level for intraday target of 182 and then 180 level. Also we see a strong support is at 180 level and some bounce is expected from there. So our todays strategy is to keep looking for selling opportunity in DLF below 194 level on intraday trading basis. We are trading in the direction of the trend, Hence we will look for shorting opportunities till the stock is trading below 194 level. We also advice traders to place the stop loss near 188 levels. High risk traders can short DLF August futures contract or Buy DLF August put options contract for intraday trading. Also today the stock is trading down by 1.9% and we expect more selling coming in this stock. Taking a look at the F&O open interest data we see that DLF Futures added more than 6 lakh shares in open interest, where as total open interest was at 1.56 crore shares. Taking a look at the technical charts we see that the trend is more likely to be bearish for today, So this stock may attract more sellers on every pull back today, but below 183 level the selling will be intense. The volume is also very high and increasing with constant selling. Technical indicators are also in favor of this trade, DLF stock. We also advice investors in DLF to stay away from this stock and Exit their long positions if any, untill the direction becomes clear or the trend turns bullish again.

About Bhaveek Patel

Bhaveek Patel is a technical analyst and investor, his areas of interest includes stock market, forex, gold.

Comments

    • says

      This course can be done online with the help of teamviewer software, You will feel that you are in class. You will get personalized time and complete attention… For more info do contact me on +91-9970777789.

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      Bhaveek Patel

  1. Ankush Jha says

    I have short dlf futures at 186 as you said, but i have open positions in it, what is target for next week in dlf stock future.

    • says

      Ankush, DLF is very much bearish and we dont see any support near by, however we see support at 135 level, so you can hold your short positions for target as 135. We also advice to trail your stop and for now you can place your stop loss at 185 level.
      If you have any more queries then just ask freely.

  2. chirag jain says

    i am short on DLF near 196 level and long on nifty future at 4980 level. bhaveek please advice me what can be done now.

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