- Why it’s recommended: DLF isIndia’s largest publicly listed real estate company building residential homes, large office parks, and shopping malls, shaping major urban areas like Gurugram and Delhi. After testing important resistance zones around 680 the prices have finally given a closing above it with a long body candle suggesting a strong bullish bias. We can see now that the strong thrust on the back of volumes can augur well for the prices. With the prices are reflecting a sustained buying and the Real Estate sector showing strong resilience we consider going long.
- Key metrics:
- P/E: 48.84,
- 52-week high: ₹784.65,
- Volume: 2.92M.
- Technical analysis: Support at ₹625, resistance at ₹850.
- Risk factors: Unsecured portfolio expansion,elevated credit costs and lower casa ratio compared to peers.
- Buy : above ₹697.
- Stop loss: ₹660.
- Target price: ₹770 (2 Months)
Stock market recap
Market breadth improved significantly, with gains spreading across large-cap, mid-cap, and small-cap segments and reflecting broader participation in the recovery. The rally was led by FMCG, financials, power, realty, and IT stocks, with Adani Ports, Kotak Mahindra Bank, Power Grid, Bajaj Finance, and Infosys among the notable gainers. Investor sentiment was supported by the US Federal Reserve’s decision to hold interest rates steady, a modest cooling in crude oil prices, and continued buying by both foreign and domestic institutional investors.
