Expect DLF to touch target of Rs 420: Edelweiss

MUMBAI: Edelweiss is of the view that DLF has given a breakout above a large bullish Head & Shoulder pattern. It sees the stock touching target of Rs 420 in coming months.

“DLF has given a breakout above a large bullish Head & Shoulder pattern with neckline at Rs 345. Momentum oscillators have triggered a buy on the weekly chart confirming the breakout.

Additionally the volumes have been rising on the breakout validating the same. The stock is expected to target Rs 420 in the next couple of months,” the report said.