Dear Trader,
DLF appears to be undergoing a bullish correction in the form of an ABC structure. The price action from 30/09/2025 to 29/10/2025 shows a clear 5-wave impulsive move, followed by a 3-wave corrective decline, which aligns well with the characteristics of a Zigzag (5-3-5) pattern.
Key observations:
- Wave A completed with a strong 5-wave advance.
- Wave B is currently retracing and must hold above 738, which is the 61.8% Fibonacci retracement of Wave A, to maintain the Zigzag structure.
- A break below 738 would invalidate the Zigzag scenario and suggest a more complex correction.
- Stop-loss (SL) is placed at 709, the origin of Wave A.
- If the Zigzag holds, we anticipate Wave C to target:
- 801 – the 78.6% extension of Wave A
- 817 – the 100% extension of Wave A
Trade Plan:
- Buy DLF above 738 with SL at 709.
- Target 1: 801
- Target 2: 817
This setup offers a favorable risk-reward ratio, provided Wave B respects the 61.8% threshold. Monitor price action closely for confirmation.
Best regards,
DLF appears to be undergoing a bullish correction in the form of an ABC structure. The price action from 30/09/2025 to 29/10/2025 shows a clear 5-wave impulsive move, followed by a 3-wave corrective decline, which aligns well with the characteristics of a Zigzag (5-3-5) pattern.
Key observations:
- Wave A completed with a strong 5-wave advance.
- Wave B is currently retracing and must hold above 738, which is the 61.8% Fibonacci retracement of Wave A, to maintain the Zigzag structure.
- A break below 738 would invalidate the Zigzag scenario and suggest a more complex correction.
- Stop-loss (SL) is placed at 709, the origin of Wave A.
- If the Zigzag holds, we anticipate Wave C to target:
- 801 – the 78.6% extension of Wave A
- 817 – the 100% extension of Wave A
Trade Plan:
- Buy DLF above 738 with SL at 709.
- Target 1: 801
- Target 2: 817
This setup offers a favorable risk-reward ratio, provided Wave B respects the 61.8% threshold. Monitor price action closely for confirmation.
Best regards,
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.