DLF trade ideas
DLF Tech setupDLF 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 hurdle).
However, the bearish crossover between the 5-day MA and 10-day MA calls for caution. Also, the tide could turn in favor of a drop to Rs. 188 (wedge support) if DLF finds acceptance below Rs. 200.
For now, I prefer to trade from the short side below $200.
Longs could be initiated if prices break above Rs. 208. In this case, the bulls could attack falling wedge resistance located at Rs. 212
Sell DLF, Target 190, Stops abv 204Rationale
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
Bought DLF with Sl of 204 & Tgt of 250DLF has shifted the trend back to positive phase & should continue the uptrend.
LONGTERM INVESTMENT IDEA: BUY DLFDLF 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.
BUYDAILY FINANCIAL WISDOM: In trading, the results your receive are directly proportional to the amount of effort you put in...
DLF Building Bricks Up (Buy)DLF is making new highs and higher lows that is building momentum in the price action. On monthly chart, it seems like it is urge to breakout from down trend line.
It is good to keep an eye on such price action.
DLF UpdateEven though the opening spike on 30th MAY have breached our SL, the trade is still very valid. i see DLF achieving our first target with high probability.
