DLF bottomed out on May 22 as indicated by the high volume long-tailed green candle, but price needs to travel beyond a key hurdle before bear could be pronounced as dead. The share price is stuck inside a falling wedge and only a daily close above Rs. 212 would confirm a bull breakout and open doors to Rs. 226 (April 30 high) and Rs. 242 (rising trendline...
Rationale Repeated failure to scale the Rs. 200 mark bolsters already bearish tech setup - bear inside day reversal and 5,10 DMA bear cross on the dailies
Bear flag breakdown has opened the doors to Rs. 200 Keep tight stops.
BUY ABOVE 226 OR WAIT FOR ONE MORE MARKET CORRECTION STRONG SUPPORT NEAR 180
Go Long on DLF @ 216 for the targets of 250 and 270!
DLF has shifted the trend back to positive phase & should continue the uptrend.
DLF has given Perfect KBO Setup along with Regular Bullish Divergence. Generally this kind of Setup causes Rocket movement. Also recent Bull Fractal was broken suggesting Buyers have strong Momentum. Strong Resistance is around 674 Levels.
DAILY FINANCIAL WISDOM: In trading, the results your receive are directly proportional to the amount of effort you put in...