DFML was range-bound till April 2024 and assumed uptrend, touching a high of 55 in a short span of 6 months. It formed Toping Formation in the shape of famous Double Top - as seen on the chart. It seems to have broken down the neckline of Double Top and is now trending in a Downward Channel (Pink channel on chart). Targets have been calculated from Measured Move Projections.
🚨 TECHNICAL SHORT-SELL/EXIT CALL – DFML 🚨
🎯 SHORT-SELL/EXIT ZONE: Rs. 36.5-35.15
📈 TP1 : Rs. 27.55
📈 TP2 : Rs. 21.15
📈 TP3 : Rs. 14.6-13.33 (long-term)
🛑 STOP LOSS: BELOW Rs. 39.5 (Daily Close)
NOTE – Prices are of ready market
📊 RISK-REWARD: High Conviction | 1:5
Caution: Please enter/exit in 3 parts in given range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
🚨 TECHNICAL SHORT-SELL/EXIT CALL – DFML 🚨
🎯 SHORT-SELL/EXIT ZONE: Rs. 36.5-35.15
📈 TP1 : Rs. 27.55
📈 TP2 : Rs. 21.15
📈 TP3 : Rs. 14.6-13.33 (long-term)
🛑 STOP LOSS: BELOW Rs. 39.5 (Daily Close)
NOTE – Prices are of ready market
📊 RISK-REWARD: High Conviction | 1:5
Caution: Please enter/exit in 3 parts in given range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.