TradingView
RajuDatla
Apr 1, 2024 5:44 PM

DLF BREAKS OUT TO NEW HIGH Long

DLF LTDNSE

Description

DLF breaks out to a new high as its momentum (RSI) breaks above 60 on about double average volume. There is also a volatility squeeze breakout (from GoNoGo charts, not available in TRADING VIEW). On the Monthly & Weekly charts too, the structure is quite bullish, and RSI has been trading above 60 for the last several months. However, price has been making new Higher-Highs for the last 6 consecutive days. So, a halt, or minor correction may take place in the next few days before the rally continues.

Only personal analysis, no recommendation.
More