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Last Updated : Feb 09, 2011 11:24 AM IST | Source: CNBC-TV18

DLF may come to Rs 220-215: Amit Gupta

DLF may come to Rs 220-215, says Amit Gupta, ICICI Securities.


DLF may come to Rs 220-215, says Amit Gupta, ICICI Securities.


Gupta told CNBC-TV18, "Clearly the trend is towards the downside only in the real estate pack. If you look at DLF, when the stock moved up recently we saw the Rs 240 and Rs 250 call options were heavily shorted. So if that is a sign and they were shorted with a premium of around Rs 6 to Rs 7, so I think now on the downside Rs 220-215 levels - possibly DLF may come off too now in this particular fall."


He further added, "In Unitech also Rs 45 call options have been shorted very aggressively. We have seen some bit of shorting around Rs 40 puts but I think if that level is also not held you may see some more closure off positions in those put options that may drag the stock till Rs 35 levels also."

"I think the trend is not very positive, they have vanished all the pull backs actually from the elections of 2009 that we have seen, so they are trading below those levels, so that is not a good sign at all and I think in that scenario you may see some more margin closures coming up in that particular segment."



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First Published on Feb 9, 2011 11:07 am
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