DLF Date 11.07.2024
DLF
Time frame : Day Chart
Remarks : The stock has formed a descending triangle having decent data size consist of 162 days of price action. That also means stock has been closely moving in the range & sincerely following the foot steps of descending triangle pattern.
Now at this junction the stock is below of it's two major trend definer exponential moving averages that is 50 ema & 100 ema. Importantly stock is at the base of triangle pattern.
And below the base of triangle pattern 200 ema is waiting to extend it's support
In case, if stock breaks 50 ema + 100 ema + descending resistance then there's sharp upside momentum will be seen & vice versa if it breaks base + 200 ema towards downside then sharp correction will be seen.
Stock is at make or break junction because stock has reached at the end or completion of triangle pattern, now either side sharp moment should come in coming days .
Regards,
Ankur
