Buy DLF above Rs 238; target Rs 250: IIFL

IIFL is bullish on DLF and has recommended to buy the stock above Rs 238 with a stop loss of Rs 232 for the target price of Rs 250, in its May 08, 2013 research report.

"DLF has signaled a trend reversal after it took support at its 200-DMA placed at Rs230. In fact, 200- DMA thrice in two months has acted as a strong support line and has bounced back from its 200- DMA. Oscillators movement provides supplementary evidence of sustainable upmove in the counter and stock is likely to head towards Rs 255 in the medium term. We believe the stock has formed an intermediate bottom around the above mentioned support levels. Rebound from here is in progress and further upside cannot be ruled out. (Duration 5 days)," says IIFL research report.

IIFL's Trading Strategy - Buy DLF above Rs 238, target Rs 250, Stop loss Rs 232.

FIIs holding more than 30% in Indian cos

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