DLF may rally to Rs 245- 250, says Kunal Bothra

DLF may rally to Rs 245- 250 from one week’s perspective, says Kunal Bothra, Sr. Technical Analyst, LKP.

Bothra told CNBC-TV18, “If I look at the infrastructure space, I think a couple of stocks look definitely good, NCC looks good on charts but I would probably go with the majors not just in infrastructure space. I would probably go with momentum stocks like DLF and IRB.”
He further added, “There are two contrasting trades over here, one is in terms of DLF which is already showing some good momentum in the last two days, Rs 230-232 is the current price right now but I think it is due for a very good run over here again. Rs 245-250 one can look at it from one week’s perspective but I think the bigger play which is probably due is something in IRB. I think this is one stock which has been consolidating in this range of Rs 115-125-130 but again today’s move is very good and on the back of a very strong market, one can expect a very strong rally to come in IRB in the next couple of days but the momentum is very swift which happens in such stocks. So I think anyone who is probably looking at short-term pop over here can look at Rs 145-150 on IRB.” Disclosures: No personal holdings in any of the stocks but at LKP we keep recommending these stocks to our clients.