DLF traded at ₹674, up 3% from yesterday's close of ₹656, after a 12‑week consolidation within a price band that has kept the stock above its 200‑day and 200‑WMA levels. The 200‑day MA sits at ₹662, while the 200‑WMA is at ₹656, giving the stock a clear bullish bias.
According to Aakash K Hindocha, Vice President – Research at Nuvama Professional Clients Group, the LCP is ₹674, with a stop‑loss at ₹650 and a target of ₹724. He notes that a higher‑low structure from the beginning of the fiscal year signals an imminent breakout, potentially delivering a 7‑8% rally.
DLF's 3% surge comes amid a broader market dip, as Nifty fell 1.5% to 23,200 points on the same day. The stock's performance outpaces the index by 1.5 points and aligns with its sector peers, which are averaging a 2% decline.
Looking ahead, the company remains on track to meet Q4 revenue guidance of ₹1,200 crore, with analysts projecting a 12% YoY increase. Hindocha warns that any reversal below the 200‑day MA could trigger a pullback, but the current support at ₹650 provides a buffer for short‑term traders.
DLF's management has announced a capital expenditure plan of ₹400 crore for the next fiscal year, aimed at expanding its real‑estate footprint. Investors should watch for the upcoming earnings release on Oct 15 for confirmation of revenue growth.