Momentumisers: Here’s why DLF is underperforming
DLF was down 6.5 percent yesterday, February 22. In fact, it closed at the day's low and that point is also the lowest in the 5 months. It has lost about 13 percent in the 5 days and considering these last 5 days too, a surge is seen in volumes; overall 23 percent higher as compared to one month's average.
DLF was down 6.5 percent yesterday, February 22. In fact, it closed at the day's low and that point is also the lowest in the 5 months. It has lost about 13 percent in the 5 days and considering these last 5 days too, a surge is seen in volumes; overall 23 percent higher as compared to one month's average. Similarly, deliverable volumes are also 63 percent higher as compared to the one month average.
Yesterday, intraday volume too was the highest in 5 months. Its closest resistance is the 200-day moving average (DMA) that's around Rs 357, which is also incidentally a 2-day high.
Also Read: DLF exceeds full-year booking guidance in 9MFY22; says input cost inching up over last 12 months
Of course, the key triggers are the risk-off sentiment in markets because of the growing geopolitical tensions around Ukraine and also fears of a rising interest rate cycle with the expectations of inflation coming in which are working against the real estate sector in general.
Watch the accompanying video of CNBC-TV18’s Agam Vakil for more details.
First Published: Feb 23, 2022 9:16 AM IST
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