FOLLOW
EVERYTHING ON CANDLE CLOSING BASIS
WE HAVE TO WATCH PRICE ACTION ON TRENDLINES AFTER 1ST CANDLE BREACHES TRENDLINE 2ND MUST BREAK LOW/HIGH OF 1ST CANDLE TO GIVE CONFIRMATION ELSE IT MAY BE FAKE OFF
193.20 IS FIRST TARGET WHICH ALSO NEAR FIBONACCI`S 50% LEVEL ACCORDING TO ME STOCK WILL MAKE A LOW THERE AT 193 WHICH IS ALSO A GAP WILL FILL IT THEN BOUNCE BACK UP TO ACTUALLY CLOSE AT 50% LEVEL OF FIBONACCI AND MAKE BULLISH HAMMER EVERYTHING ELSE IS WRITTEN PLEASE FOLLOW CHART
I HAVE SHOWN MULTIPLE CHANNELS ONE CHANNEL IS BROKEN STOCK ENTERS NEW CHANNELS AND SO ON... YOUR STRICT STOP LOSS IS ORANGE LINE ON CANDLE CLOSING BASIS TWO TARGETS FOR LONG ARE GIVEN
TRADE AT YOUR OWN RISK
DLF intraday analysis on request of Vikas Khetripal
Expectation
Selling in mid day , 235.85 might be tested
Decision Range
234.9-237.1
Support for the day
231.45
Resistance for the day
242.7
My trade
I don't trade stocks , but I'd have tried shorting 240 call near resistance
DLF
CMP 225
Consider selling for
Target 185
SL 240
This analysis is for educational purpose only. Do your own research or consult your financial adviser before taking decision on the information provided.
Take care & safe trading...!!!
Dear Traders,
DLF is in overbought and we saw a long run since this November, also a long wick rejected 226 zone emerges as short term resistance zone, we will see the correction once the market also gets corrected. We initially sell DLF @ 220 levels for the tgt of 212. (8pts) also we buy puts 217 Nov expiry @ 2.8 with a stop of 1.5 tgt should be 4.5, 5,...
DLF downward channel broken on the upside.
Nice base formation at 178 levels so stop loss can be placed at 177, which is risk of 6 points.
Buy for a target of 210 which means a reward of 30 points.
Risk reward ratio for this trade would be 1:5
This trade is worth 16 Percent.
DLF
CMP 164.50
Last time when stock was at 181 we suggested to sell above 182 for target of 139
After recommendation, the stock made a high of 182.90 and low of 136.70
Currently the setup suggests 170-172 may act as resistance and inability to sustain at current levels will take DLF down again towards 144 and possibly even a new low towards 120
Take care &...
