sudhansrini
Long

DHFL Looking to scale new highs ?

NSE:DHFL   DEWAN HOUSING FIN
43 3 2
DHFL             on weekly and daily charts has broken a two year range. Volumes are good on a daily chart . Looks set for new highs going fwd             .
It will be consider as a bullish Wave breakout only if it manages to close above 285 levels at the week end. The price action has already completed Zig Zag correction pattern prior to this up move and I believe it shall close above 285 levels at the weekend. Good Analysis, keep it up. Regards.
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sudhansrini NeeteshJain
Thx and good to have confirmation with Elliot wave theory. Is it right to say that it is now in 3rd progressive wave ? Also todays price action indicated all profit booking is complete and the counter managed to bounce back after testing 285 breakout levels
+1 Reply
NeeteshJain sudhansrini
As per the monthly chart, it confirmed a positive breakout with long green candlestick that indicates strength and bullishness. Now, It is true to say that there is high pressure of buyers in price action which is taking prices up.
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