indiamarketoutlook

Dlf: On shaky grounds...

Short
NSE:DLF   DLF LTD
DLF
Cmp 126

Observation

- we are looking at weekly chart

- stock is trading below crucial line

- a line which provided support since 2017 has been broken

- current consolidation phase around blue line similar to 2017 pattern

- Strong possibility of zone which acted as Support line may now start acting as Line of Resistance

On any rise one may consider to sell Dlf

Positional Target 113 / 108


Take care & safe trading...!!!
Trade active: We have the rise we were looking for. DLF is at resistance line

Comments

Nice input. Thank you very much
+1 Reply
NitinDhanrajani NitinDhanrajani
@NitinDhanrajani, any option strategy as you are master in it.
Reply
indiamarketoutlook NitinDhanrajani
@NitinDhanrarjani,

Thanks for your kind words.
You may consider selling 160 Call option initially currently around 3.3 and then if DLF starts coming down then may shift to 150 Call
Reply
Nice chart
+1 Reply
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