DLF Explosion Ready
Updated
There's an expected strong intraday momentum for the following trading session due to the listed factors:
1. Ongoing Market Volatility
2. Long weekend trading order absorption
3. Continuation pattern peaking in the continuing downtrend
4. Demand and Supply zoned followed by low volume clusters outside value area i.e. any breach has no obstruction from forming a trend
5. Constricted CPR likely to expand and translate into broad price action
1. Ongoing Market Volatility
2. Long weekend trading order absorption
3. Continuation pattern peaking in the continuing downtrend
4. Demand and Supply zoned followed by low volume clusters outside value area i.e. any breach has no obstruction from forming a trend
5. Constricted CPR likely to expand and translate into broad price action
Trade active
Upon the gap above the continuation pattern plotted the price action was quickly absorbed until the point of structural support. From there it generated a good intraday momentum till the resistance mark. Where we can see it in a clear value area phase. A voluminous breach at 140 should lead to a strong trend in a swing frame.Trade closed: target reached
Strong swing as expected has been observed in the Intraday timeframe. We would safely close the call at this point.
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