DLF | Resistance

76 2
Trendline resistance at current level of 185 in hourly chart, which is also a resistance when Daily price action is considered. Can go short now with tight stop with 173 (support is daily time frame) as target.
It did hit 173. Does it mean that reversal will be there from this level
Akhil008 JigneshRawal
@JigneshRawal, I wouldn't assume it as a reversal. 173 is a good support in daily frame, while 185 is a resistance which can extend up to 190. Hence the stock might trade within that price range for a while. My view will be to buy at 173 with tight stop with 185 as target and sell at 185 with tight stop with 173 as target until any of the level is broken. Daily close will be more important (as you can see today, low is around 168.50 but still managed to close above 173).
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