DLF may slip to Rs 280-285: Thacker

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DLF may slip to Rs 280-285: Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that DLF may slip to Rs 280-285.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about DLF See messages about DLF DLF BSE | NSE 10/02/12 Are Mutual Funds betting on DLF?

Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that DLF may slip to Rs 280-285.

Thacker told CNBC-TV18, "DLF we have been tracking and we were looking for some kind of a positive breakout because real estate has hardly participated in this rally. If you compare the last time the market at 5250, which was in January DLF was around Rs 380-390 levels and this time it is at Rs 310-305 levels. So very clearly this was an under performing sector."

He further added, "On Nifty after the breakout of 5150 we were expecting real estate to come and join the party that has not happened really. So I think DLF till it breaks Rs 315-320 that is the supply band till those price levels are broken in the short term. The stock will remain under pressure and it could retest the levels of Rs 285-280."