Technical Outlook & Trading Strategy:-
The reality sector witnessed heavy selling pressure on Friday’s session of trade. The price of DLF also fell on the back of strong volumes.
The Rs 208 levels is the crucial support for the price of DLF. On the weekly chart this breakdown will open up downside targets of Rs 195 / Rs 184 levels.
The momentum indicators are also in sell mode and the price of DLF has also closed below its key moving average clusters since the past few sessions of trade.
We recommend traders to Buy DLF 200 Aug PUT between Rs 3.50 - Rs 5 for targets of Rs 9 / Rs 12 with a stoploss placed below Rs 0.30
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