DLF may hit Rs 126, says Chandan Taparia

Chandan Taparia of Anand Rathi told CNBC-TV18, "DLF is making the built up of short positions. It is going down from last five-six trading sessions, making the lower top lower bottom formation. We are observing fresh Call writing at every higher strike like Rs 135-140 and that is why we are expecting this stock to go down towards Rs 126-125 levels. So it is better to trade with Put or sell the stock with the stoploss of Rs 139-140 and trade for the downside target of Rs 126."

At 13:14 hrs DLF was quoting at Rs 131.45, down Rs 4.50, or 3.31 percent. It has touched an intraday high of Rs 138.70 and an intraday low of Rs 129.50.