DLF has been consolidating from last week of October 2009 between the range of Rs395-340. On Friday, the stock attempted to break past the top-end of the consolidation phase. The move was supported by strong volumes and against a weak trend in the broader indices. On observation of the daily chart we can visualize that the stock is yet to break out of the consolidation phase. DLF is now believed to be very close to an upside breakout, a development that should lead to a rapid advance towards the levels of Rs415-430. We recommend traders to buy the stock between the levels of Rs380-390 with a stop loss of Rs364 for a target of Rs414 PLUS.
