Avoid DLF, says Sudarshan Sukhani

Avoid DLF, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Theoretically on the charts DLF is a buy because we have only binary options, we can either buy or sell we don’t have the option to say avoid. That is not what the market listens to. So theoretically it is a buy but tactically I wouldn’t touch it. DLF’s sharp flag like vertical rally is not sustainable. So it needs to correct before we re-evaluate it, it is best an avoid."
The share touched its 52-week high Rs 263.20 and 52-week low Rs 169.55 on 18 January, 2013 and 04 June, 2012, respectively. Currently, it is trading 2.47% below its 52-week high and 51.4% above its 52-week low. Market capitalisation stands at Rs 43,604.79 crore.