AbhishekHSinghCMT

DLF- Potential Bearish Gartley with X@159.40

Short
NSE:DLF   DLF LTD
503 views
11
X-point High@159. 40 is critical level -Any breach shall violate the pattern downside we could look at swing high-B@152 as first target - 150-2nd Target & 146 as 3rd Target
Trade active: 12:40 Hrs 23rd Sep2016

Trailing My profit stop at 155.25 - Trading At 154.70
Trade active: 12:45 Hrs 23rd Sep2016

Trading at 154
Trade active: 13:10 Hrs -23rd Sep2016

Trading at 153.60

Either we take profit of 40-50 paisa as entered at 155.80-155.90 zone & trailed my profit stop at 155.25 or we book at 152 -1st Target
Comment: 13:13 Hrs 23rd Sep2016

Trading at 153.80

Shall suggest that we should 50% here as 2 Rs down from 155.80 - Prices are travelling very slowly down & rest trail with 155.25
Trade active: 14:30 Hrs 23rd Sep2016

Trading at 157.40

Thanks we are out of the stock at the moment
Trade active: 14:37 Hrs 23rd Sep2016

Trading at 158.35

Earlier Swing High-X was 159.40 Current High@159.20
Trade active: 14:50 Hrs 23rd Sep2016

Trading at 156.70

Who is selling DLF?
Trade active: 14:51 Hrs -23rd Sep2016

Trading at 156.40

155.20 is the low as of the current session
Trade active: 15:20 Hrs 23rd Sep2016

Trading at 156

Closing my position for the Day. Have a nice weekend
Trade active: 08:08 Hrs 25th Aug2016

Good Morning To all & Wish You a happy Sunday.

The candle which turned from 159.20 just missing 159.40 & One can only see the excitement if he was part of this candle. I am still taking as Gartley till X@159.40 is taken out.

Before it takes out 159.40 in coming session do you really care -If you ask me -my answer is no because we have already taken 4.5 points in all from the first fall which was 155.70 to 153.60 & from 158.70 to 156 levels.

The candlestick which turned from 159.20 -made a wick or shadow on top & small body at the bottom- is known as "Shooting Star" candle likely shooting star candle is more effective when its body small cylinder is red in color whereas in this case it is green- still it is a shooting star. One check effectiveness of such candle in historical pages.

In coming session- we will see for retracement & once get any clue that DLF is looking downside- there is no doubt that if DLF starts moving below the day's low- it will fall further down.

So, let us enjoy the day & comeback to business on Monday-16th Sep2016.

Regards,
Abhishek H. Singh, CMT
Comment: 08:22 Hrs 25th Sep2016

Sorry for typo above - "Monday -26th Sep2016"
Trade active: 13:25 Hrs 26th Sep2016

Trading at 152

DLF has Big Red Candle Downside
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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