Buy DLF between Rs 156.70 & Rs.145 :: HDFC Securities

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Current Observation:
 The Realty sector was outperforming in the broader market and DLF was one of the key contributors to the sectors
upmove.
 Attached weekly timeframe chart of DLF Ltd is suggesting a sharp upward bounce in the last couple of weeks, post
consolidation during early part of Jan-15.
 The stock price has broken above the hurdle of down sloping trend line (brown line, which is connected from the top
of Rs.242-mid of June-14). This could be positive indication for stock price for term trend.
 One may observe the bullish sequence of higher tops and bottoms and recent swing low of around Rs.129 could be
considered as a new higher bottom of the sequence. Hence, one may expect stock price to move above the previous
higher top of around Rs.166 levels-mid of Dec-14 to form a new higher top of the sequence.
 Weekly momentum oscillator like 8 period MACD has turned up from its signal line, which is suggesting a
strengthening of upside momentum.
 Overall chart pattern is indicating that more upside is due for DLF Ltd for near term.

LINK

http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010916