Since the last couple of trading session, DLF formed a cup and handle pattern which indicating a strong bullish move in DLF in next few trading session above 175. According to pattern depth of Cup is nearly 32 points so we can expect the same points in the projected target which can be 205-207.
Buy DLF above 175
Target - 190 200...
On MTF price has test the previous swing high at 343, the level which appeared as strong support and close HH. Moreover it breaches the .618 fib level . Let wait for pull back the price near 373 for suitable entry. On DTF volume has also increased to breach the crucial level at 363 appx. SL can be place near 338.7 for a target of 440.
GBP / JPY is very close to where a fall may occur. The pair is currently in a descending triangle pattern. The buying force was amortized by the downtrend line. With the arrival of the bears with the selling force, a low candle was formed. We expect the bear kick to be strong enough to send the pair close to the support level.
- Price touched a few times...