The Inverted H&S pattern observed in Weekly Time Frame of DLF has probably known to everyone by now.
The significance of me posting the chart today is on back of Positive news that DLF has sold its subsidiary's stake to a GIC Singapore at a valuation of about Rs 35000 Cr at a time when the Market Cap of DLF ltd is Rs 33352 Cr. This makes me think that stock ...
DLF which had formed a Inverted H&S in weekly charts had a sharp upmove till 206. During last weeks correction stock had corrected from recent highs to the inverted H&S neckline which had held and provided good support.
Now the stock has cut above the downward sloping Trendline opening up a potential upside target of 205.
The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security
Which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.
CHARTS SPEAK their own language ! thr is beauty in simplicity
dlf would be attempting the breakout soon...9 yrs long awaited breakout...fundamentals are also supportiv this time ...should be churning its loan book also !!
have a watch ....can buy at 145
time duration; 45 days
disclaimer: chart is for self only ::
As per Charts, DLF looking exhausted in its non- stop runup from 80 levels to 165 levels. High expectation on DCCDL sale stake is what is keeping it at its current levels. Once that is out, and if bad q2 results, then we may soon see 130 levels
The price action is been trading between trendlines and forming bullish candlesticks pattern at the bottom of trendline or resistance line. For past three days, it is been falling and formed a Three black crows bullish pattern. Now, it can move up tomorrow as shown in the chart to confirm the pattern as it is also previously done. Buying pressure at resistance ...