DLF can move to Rs 242-245: Anil Manghnani

Manghnani told CNBC-TV18, "After a long time DLF broken out above Rs 220. In the past every time it fell from that level and interestingly in a market that was sluggish yesterday coming down where a lot of the high beta names were falling, it is surprising that actually real estate held out, you would not expect that in a market that was coming down. So clearly buying maybe people are now getting into beta because remembers beta has not done well for six months. So it is a sign that money is moving into both PSU banks and real estate now."

He further added, "I think in this move Rs 242-245 is the possibility. Yesterday or day before low as a stop Rs 222 but ideally I think Rs 220 should be the stoploss because that is where the breakout happens."