Buy DLF; target of Rs 398: IndiaInfoline

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IndiaInfoline has recommended buy rating on DLF with a short term target of Rs 398, in its November 23, 2009 research report.

"DLF has seen impressive volume in Friday's trading session and appears to have taken support between Rs 350-355 zone. The bullish formation is confirmed after the stock gave a close above its 13-DMA with positive divergences in momentum oscillators. Volumes accompanying the breakout are encouraging, thereby adding confirmation to the bullish outlook. We recommend traders with high risk appetite to buy the stock in the range of Rs 372-378 for a short term target of Rs 398. A stop loss of Rs365 should be maintained on all long positions," says IndiaInfoline research report.

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