Mehul Kothari expects NLC India, DLF to gain in the near term; check why

According to the technical analyst from Anand Rathi, NLC India can rally to Rs 100, while DLF can jump to Rs 435.

BUY

NLC India

Buy Near: Rs 89

Target: Rs 100

Stop Loss: Rs 83

The stock NLC INDIA has made an attempt for a multiyear breakout above Rs 90 mark. Once the stock starts sustaining above Rs 90 level on a closing basis then we might witness a fresh bull run in the stock. Even from a trading perspective the stock looks lucrative.

Thus, we advise traders to buy the stock near Rs 89 with a strict stop of Rs 83.

BUY

DLF

Buy Above: Rs 418.50

Target: Rs 435

Stop Loss: Rs 410

The realty giant DLF has confirmed a major breakout above Rs 413 mark. The price action resembles a bullish Cup and Handle pattern. Thus, we expect positive momentum in the stock during the coming sessions.

Hence, we advise traders to buy the stock above Rs 418.50 with a strict stop of Rs 410.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).