DLF broke out with high volumes and is currently trading in a supply zone. This supply zone has been tested several times and DLF's price managed only one time to cross it to hit an all-time high.
We can also see the fall after closing below the supply zone. So, it is important for the price to break the supply zone with high volumes to go for our target and a new all-time high above it.
The stop loss can be placed below the supply zone.
If DLF's price comes to test 318 level, chances are good that it will support. This is a better scenario for going long.
Happy trading :)
This is just for educational purposes.
We can also see the fall after closing below the supply zone. So, it is important for the price to break the supply zone with high volumes to go for our target and a new all-time high above it.
The stop loss can be placed below the supply zone.
If DLF's price comes to test 318 level, chances are good that it will support. This is a better scenario for going long.
Happy trading :)
This is just for educational purposes.
Trade closed: target reached:
Almost reached our target. There will be a pullback now, as the Nifty Realty is suggesting.
