private void ListDragTarget_DragOver(object sender, System.Windows.Forms.DragEventArgs e) 
{

    // Determine whether string data exists in the drop data. If not, then
    // the drop effect reflects that the drop cannot occur.
    if (!e.Data.GetDataPresent(typeof(System.String))) {

        e.Effect = DragDropEffects.None;
        DropLocationLabel.Text = "None - no string data.";
        return;
    }

    // Set the effect based upon the KeyState.
    if ((e.KeyState & (8+32)) == (8+32) && 
        (e.AllowedEffect & DragDropEffects.Link) == DragDropEffects.Link) {
        // KeyState 8 + 32 = CTL + ALT

        // Link drag-and-drop effect.
        e.Effect = DragDropEffects.Link;
    } else if ((e.KeyState & 32) == 32 && 
        (e.AllowedEffect & DragDropEffects.Link) == DragDropEffects.Link) {

        // ALT KeyState for link.
        e.Effect = DragDropEffects.Link;
    } else if ((e.KeyState & 4) == 4 && 
        (e.AllowedEffect & DragDropEffects.Move) == DragDropEffects.Move) {

        // SHIFT KeyState for move.
        e.Effect = DragDropEffects.Move;
    } else if ((e.KeyState & 8) == 8 && 
        (e.AllowedEffect & DragDropEffects.Copy) == DragDropEffects.Copy) {

        // CTL KeyState for copy.
        e.Effect = DragDropEffects.Copy;
    } else if ((e.AllowedEffect & DragDropEffects.Move) == DragDropEffects.Move)  {

        // By default, the drop action should be move, if allowed.
        e.Effect = DragDropEffects.Move;
    } else
    {
        e.Effect = DragDropEffects.None;
    }

    // Get the index of the item the mouse is below. 

    // The mouse locations are relative to the screen, so they must be 
    // converted to client coordinates.

    indexOfItemUnderMouseToDrop = 
        ListDragTarget.IndexFromPoint(ListDragTarget.PointToClient(new Point(e.X, e.Y)));

    // Updates the label text.
    if (indexOfItemUnderMouseToDrop != ListBox.NoMatches){

        DropLocationLabel.Text = "Drops before item #" + (indexOfItemUnderMouseToDrop + 1);
    } else
    {
        DropLocationLabel.Text = "Drops at the end.";
    }
}