ACTION - BUY
TARGET PRICE 190/-Rs
REGRESSION TREND CHANNEL BREAKOUT
TREND LINE BREAKOUT AT 181/-Rs
Disclaimers: - The contents produced here are purely for Educational Purposes. They Should Not Be Constructed as Buy/Sell Recommendations
Financial Interest - NO
(FOR EDUCATIONAL PURPOSE ONLY)
IF PRICE CROSS AND CLOSE ABOVE 755 (BREAKOUT WITH SIGNIFICANT VOLUME),IT WILL MOVE UP TO 795
IF PRICE CROSS AND CLOSE BELOW 722 (BREAKOUT WITH SIGNIFICANT VOLUME),IT WILL MOVE DOWN TILL 678
See the price behave in big regression trend, it is for long investors how they catch sight of it. There are always two scenario in the stock as we always see,
The first thing is that the three regression trend i have plotted inside the big regression trend, the two regression are in "UP" direction trend and the last one is in "down" direction. So can be...
The stock has nicely formed double top pattern and gave clear breakout. It is also trading out of Regression Channel and RSI trading below 50 is confirming the bearish view. One can short the stock and look for the target of 353 in coming days.
DLF was moving up since 27.12.16. It has broken Regression channel that too with GAP. This gap zone may work as a Resistance. Aggressive Trader can take the last 2 Green bar as an opportunity to enter the short trade by providing suitable Stop Loss. Defensive Traders can wait and short the stock when it trades below the bar which formed the GAP i.e. below 137....
The stock is getting support at up sloping trend line. Probably we can use this pull back for entering a long at this level. My idea has following justification
1. closed out of downtrend regression channel
2.Made an engulfing covering the previous candle completely.
3. Trend line support.
4. Mostly at this level of RSI it changes the trend.
5. Trend reversal...