Friday, 7 November 2008

Buy DLF at Rs 175-180: Mathew

Technical Analyst, E Mathew is of the view that one can buy DLF at Rs 175-180.

Mathew told CNBC-TV18, "As far as DLF is concerned, real estate stocks have been thrashed so badly and it is participating in a pullback rally, I would say now for those who have been lucky enough to get on to this, if one is stretching a little, one could look at extreme possibility to say around Rs 324 to Rs 330 and beyond that I think it would be pushing ones luck too far and as far as Ranbaxy is concerned, it’s a different ballgame here. I think on a reaction I would like to enter the stock, ideally speaking I am hoping that it could come down to around Rs 175 to Rs 180 and I would love to buy somewhere between that range. At this particular point maybe you are playing for another Rs 15 and I wouldn’t buy the stock at this time."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.