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 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.
Great job sir ! 🙂
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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.
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.
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.
Book profit in long positions of nifty futures, however you can keep the short position in DLF open.
can we buy tata motors for long term ?
In short term trading tatamotors can see much lower levels, so this is not the time to pick this stock for long term. you need to wait for some more correction in tata motors stock.