Anil Manghnani, Modern Shares & Stock Brokers is of the view that one can sell DLF at this level.
Manghnani told CNBC-TV18, "DLF has been in an upmove all the away from the lows of Rs 172, continuously moving up with the market. But having said that it has now come to first key resistance around Rs 221 is a major Fibonacci retracement and also the 200 DMA is placed out there and that traditionally has been sort of resistance area."
He further added, "If you bought lower, I would look to book profits in DLF and wait for a pullback. The stock has already moved up 50 bucks, so it should come back and settle around the Rs 200 mark eventually. So I would look to sell out here and again buy the fall."
