DLF may slip to Rs 120: Gopi Suvanam

Gopi Suvanam, Founder of InvestWorks told CNBC-TV18, "I have always maintained the target of Rs 120. I don’t know when it will be achieved but February could be a good series for achieving the target primarily driven by two-three things, one is the interest rate cycle itself. I don’t think interest rate cycle is going to ease out as fast as people had expected last month, so that is a very big negative for DLF."

"Secondly, in general if FIIs are selling ETFs then that would have a huge impact on DLF just purely because of the liquidity in the stock per se. So these are the two things that will drive DLF to much lower levels this series," he added.

Disclosure: Analyst holds some RIL shares.