DLFafter completing wyckoff accumulation bullish pattern, stock has shown weakness to sustain at higher level.
as of now it is in sideway range. Once 810 level is broken it may try to form "M" pattern
Lets wait and watch if this pattern is completed successfully
I do expect it to take minimum 3 months
CNXREALTY
CNXREALTY Trend AnalysisNSE:CNXREALTY Hi Guys Now I Share my View on Nifty Realty this index also shared the previous month before the breakout
View: it already moves 113 Points (17%) "Now we have Resistance and Trendline also so,
around 780 to 790 Reject or Try ti Breakout the Trendline
" Sorry I am sharing anything in Tradingviwe "
I give the Google Drive link also in the comment
NOCIL LTD IS LOOKING GOOD FOR A POSITIONAL TRADE.NOCIL LTD HAD CORRECTED 40% FROM ITS TOP
And it is ready to give a huge run-up of 27%
FUNDAMENTAL REASON
1. China had stopped its supply throughout the world so India is expected to fill those requirements and the company is in the chemical business so there would be a huge demand in the coming future.
2. We could see some huge movement today and this kind of movement is usually made by big institutions so Big institutions might be investing in this company.
3. Because big investors are buying into this company it might show some good results upcoming.
TECHNICAL REASON
1. The stock had recently given a breakout of its 2 important moving averages (50,200).
2. The stock had formed an inverted head and shoulder pattern and it is ready to break the pattern.
3. And if you see the RSI we could see a bullish divergence in the RSI.
4. The stock had taken support from a trend and it has given a big movement.
SO, AFTER THE BREAKOUT OF THE NECKLINE WE SHOULD MAKE SOME POSITION IN THIS COMPANY
CNX Realty - Breaking Out after a DecadeThe CNX Realty Index was created in January 2007. The index began with a base level of 1000 and made a quick high of 1878.45 in January 2008 at the peak of the 2003-2008 bull market.
The great crash followed and the CNX Realty Index collapsed to 161 (-90 pct ) by March 2009. This was followed by a strong 6 month long pullback rally where CNX Realty peaked at 630 odd levels in October 2009. After this short lived pullback, CNX Realty entered a long term bear market and made fresh lows in 2013 and 2016.
The CNX Realty Index has spent the last 10 years (2011-2021) in a range between 140-370. The index is now poised to break out of its decade-long consolidation to the upside.
The CNX Realty Index made a 10 year closing high in February 2021 (349.8) but it has struggled at the historical resistance zone of 365-370. This week, CNX Realty closed above 366 for the first time since January 2018.
Once this level is taken out on a monthly basis, CNX Realty should move significantly higher in the medium to long term.
Support/ Stop loss : The 6 month low of 298 is an excellent stop loss for this trade
Targets : Since this is a breakout after a decade long consolidation, we can expect significantly higher levels for CNX Realty in the months and years ahead. A simple Fib retracement, gives us a target of 539 (23.6 pct ) which coincides with the MAY 2011 high of 534.. making 534-538 our primary target.
The May 2008 monthly gap at 978 which coincides with the 50% Fibonacci retracement level of 1002 would make a possible long term target.
PS: I have used the monthly chart to describe what is for now a weekly breakout. This is an investment call not a trade and can take more than a few years but it has an excellent Risk-Return spectrum. Also, the CNX Realty is not a traded instrument (no ETFs either), so one can check the components/weights from the NSE website and trade/invest accordingly.
DLFIn daily time frame it has made an Evening Star Doji with a negative RSI divergence. It faces resistance at 215 and support now comes in at 195-190. View negates above 222.
Evening Star Doji is formed in an UPTREND, 1st candle is bullish one , 2nd candles is a DOJI candle above the body of the previous candle and 3rd candle is a bearish one below the DOJI candle and closing below the midpoint of the 1st candle (bullish one )
Negative RSI Divergence happens in an UPTREND when the stock/index makes a higher high but the RSI fails to do so making a lower high and curls downwards.