Parag Doctor, Head - Trading Strategies of Keynote Capital advised selling DLF. He feels the realty stocks are not expected to really outperform the markets.
Doctor told CNBC-TV18, “I would advice investor not to average downwards. I would advice to come out of DLF. Cyclical stocks especially the realty names are not expected to really outperform the markets. In fact, they could head lower from here. So, we have a sell rating on DLF. If the Rs 225 level breaks, it could be heading towards the Rs 190 or even Rs 200 mark.”
He further added, "DLF closed at Rs 231.50, down Rs 7.60, or 3.18 percent. It has touched an intraday high of Rs 240.35 and an intraday low of Rs 230.25. There were pending sell orders of 31 shares, with no buyers available. It was trading with volumes of 1,181,626 shares.