StockHolding Research: BUY DLF; Indian Markets Recover from Day’s Lows

StockHolding Research: BUY DLF; Indian Markets Recover from Day’s Lows

StockHolding Research has suggested BUY Call for real estate major DLF for intraday and short term traders. DLF reported strong quarterly numbers and the company is poised to witness further strength. StockHolding Research has suggested BUY trade for DLF at current price (Rs 490) with target price of Rs 500. Stop Loss for the trade has been suggested at Rs 482.

DLF and other real estate companies will also gain from RBI’s decision to keep repo rate unchanged in today’s policy decision. Affordable housing can witness growth as home buyers can expect interest rates to decline in upcoming policy meets.

Indian markets recovered during the afternoon session. Markets opened negative and NSE Nifty was trading below 19550 support level within first two hours of trade. Later, NSE Nifty even slipped below 19,500 levels but after RBI decision on interest rates was announced, markets recovered.

At 1.20 pm, BSE Sensex was down by 140 points and NSE Nifty was down by 40 points.

European markets opened positive on Thursday and US Futures could also open positive today. The trends in US futures will be a major factor in Indian market’s closing trade.

Major gainers in today’s session were Adani Ports, Adani Enterprises, JSW Steel, ONGC, M&M, Reliance Industries, Tech Mahindra, Bajaj Finserv and Wipro. Among losers in today’s session were Asian Paints, ITC, Britannia, Kotak Mahindra Bank and Nestle India.

All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.

Analyst Views: