DLF has target of Rs 201: Bhamre

Bhamre told CNBC-TV18, "As I was pointing out that there is long formation visible in some of the largecaps and real estate major DLF is one of them. Around Rs 185 to Rs 190 zone the stock has taken decent support and we are seeing fresh formation of long positions. Unlike banking, unlike capital goods this space doesn’t have lot of short positions in it. So the assumption of buying it and expecting a rally is not on short covering. "

He further added, "We are expecting that these long positions formed in distressed market scenario where it has taken good support around Rs 185 is done by strong hands and we are anticipating well upside move. Right now we are restricting targets to Rs 201. One can fix stop loss around Rs 183 and go long. Last week we had mentioned HDIL around Rs 61-62 levels. Even that stock is looking very good from buying perspective and there also we are seeing formation of long positions rather than short covering."