DLF has target of Rs 180: Sukhani

Sukhani told CNBC-TV18, " Financial Technologies is showing a pattern which suggests a target of Rs 620 at the minimum and that is a short-term target. My sense is that it will reach Rs 500 eventually. It doesn’t come on the list because it’s no longer an active stock. It’s Multi Commodity Exchange (MCX) has branched off and trader interest is no longer there. But if we see this big decline coming and not to forget that it has fallen from Rs 900 to Rs 600 already, so the trend is down. It’s cracking Rs 600 and going much below."

He further added, "I have been downbeat on DLF because it rallied a month ago. Found lot of resistance at that Rs 205-210 area. It couldn’t cross that and that gave the message that these rallies are relief rallies and the trend is continuing to be down."

"Yesterday DLF fell after three day rally. That three day is the maximum that a correction takes place for. So we can assume that DLF’s downtrend has started, Rs 180 could be an immediate target but eventually DLF should revisit much lower levels. It’s a pity but that will happen."