The outlook is bullish for DLF. The corrective fall in place since April this year seems to have ended. The recent reversal from the low of ₹778.45 made on Budget Day is happening from near the 200-day moving average support. The share price is well above the key ₹855-₹865 resistance zone this week.
Today’s Stock Recommendation: July 31, 2024
DLF’s share price can rise to ₹950 in the coming weeks. Traders can go long now at around ₹880. Accumulate on dips at ₹868. Keep the stop-loss at ₹848 initially. Trail the stop-loss up to ₹886 as soon as the stock moves up to ₹895. Move the stop-loss further up to ₹910 when the price touches ₹925. Exit the long positions at ₹940. The rise in the share price could be gradual. So, traders will have to wait patiently.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)