Jan 02, 2013, 11.17 AM | Source: CNBC-TV18
Buy DLF, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " Sintex Industries is a good chart. It is not confirm, but it is just completing a bullish head and shoulder pattern. That is usually the sign that the stock is bottoming out, a major reversal is coming in place and a new uptrending or a new bull market is coming. This whole process will take its own time, but because it is a high beta play an immediate target of Rs 60 is possible. I would suggest Sintex as a trading idea for the day and for the next 2-3 days."
He further added, "We have been tracking DLF since the first breakouts at Rs 200 and it is doing all the right things. It made the right chart patterns, took it at the first step ahead and now rallies, consolidation, small dips, subsequent rallies, again we saw a rally yesterday. That rally has come after a four week consolidation - almost mimicking the Nifty. So yesterday is not a one-off event, it is just the beginning of what is likely to be a sustained upmove. So DLF is a buying opportunity. For position traders you can just go buy Calls, Futures or equity."
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