MarketsWithKR

DLF - does it need our attention?

NSE:DLF   DLF LTD
The monthly chart shows rejection at 23.6% FIB. However, it's above an important zone of around 270 from where the price has previously reversed. RSI is also 60 which is good.


Weekly RSI is 60 as well, a good sign. It appears to have formed an HH and an HL for now. However, price rejection at higher levels seems apparent.


The Daily chart shows RSI at 60, too. A trend-based FIB extension points towards a potential resistance of 315 once 300 is breached, with support at 282.


The price is a little higher for my liking which might make it slightly lower RR (if I recall correctly, this is why @Anosh_Mody
and I hadn't included this in our video). But it appears decent technically. In fact, it kinda follows Vishal Malkan
's G-F-F setup with RSI being 60.
Comment: An important hurdle of 300 psych level has been cleared. My personal position is +6.06%
Comment: Resistance from the 315 levels marked via trend-based fib extension.

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