DLF has resistance at Rs 245-257: Manghnani

DLF has resistance at Rs 245-257, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "From trend perspective Rs 210 was a key support for DLF. So I am not surprised that it held it even with all the news. The overall setup hasn’t changed from being positive even post the fact that the stock has fallen with all the news. I still believe Rs 245 to Rs 257 is the key resistance zone. So it is a possibility may be it goes back to that Rs 235-240 again, retest it and then see what it does over there."
He further added, "Unitech is a difficult one. From a longer term chart you still look at it even if it goes up 10-15 percent it doesn’t change much. So I am still not sure how to play Unitech. I would still believe there is one more down leg but I guess with all the momentum you hold it. May be Rs 30-32 is possible in this move."