DLF Ltd. is the largest real estate developer in India. But since the sub-prime loan crisis in the western countries DLF has moved to its lowest level in November 2009. DLF stock on NSE is still trading with bearish bias and we see that it is taking the resistance at the 100 EMA, Since the price action is close to that resistance level we are expecting the selling coming in the DLF stock. We recommend to enter short position below 235 and watch for the selling opportunities as long as the stock remains below 242. Our profit taking levels will be 210 and 185. We would advice traders to place their stop loss just above 242 level. All the short positions in DLF are based on DLF futures and traders should not trade the options (CALL / PUT) based on the above analysis.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
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