Sell DHFL with a target of Rs 180: Mitesh Thacker

Mitesh Thacker, miteshthacker.com recommends a sell rating on DHFL with a target price of Rs 180 and a strict stop loss placed at Rs 200. The stock has fallen 4 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

DHFL is a high beta stock (2.33) and is trading well above its 50-day, 100-day moving averages placed at Rs 183.81 and 192.97, but below its 200-day moving average of Rs 210.34, as per data collated by ETMarkets.com. The stock is trading with a P/E of 7.87 and P/B of 1.13.