DLF (Daily) - Bullish Flag DLF (Daily) - Bullish Flag
4th wave seems to be ending, making way for the 5th wave
Stochastic 14,3,3 is in positive crossover
+DI has just gone above the -DI in the Directional Movement Index (DMI) indicating the start of an uptrend
However before going long / buying, wait for the following to become a reality:
(1) Breakout of the resistance line (drawn in red)
(2) RSI to go over 60 and enter the overbought zone
(3) ADX to become uptick (though it is above 15 as of now)
Seems very likely that they will be achieved anytime soon.
Do not take anticipatory trade till you see them happening
Weekly tide is showing a morning star candlestick pattern formation
DLF trade ideas
DLF: BULLISH SEQUENCEFollowing the 'rule' of wave theory , ''wave 4 should not enter into the territory of the wave 1" , stock has managed to keep its bullish outlook intact. moreover we have a HH HL formation on daily time frame which suggest that stock should move higher in wave 5 for new high in coming weeks.
Buy on cmp add on dips keep SL of 390 & look for the target of 440-50 .
DLF TRADE SETUP FOR TOMORROWAs you can see in the chart, DLF is consolidation from last 3 to 4 days,
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Now today stock is given the closing above consolidation, now if stock goes above 386,
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We can buy this trade for the target of ₹400.
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What's your view on this comment below in the box.
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Note: if market is opened gap down, so don't buy this trade before breakout.
DLF: Chart view and trading strategyDLF
View: Range bound
- Possible resistance level and Support levels are discussed in the chart
Given the set up a Short strangle strategy may be considered
Take care & safe trading....!!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
DLF : BULLISH VIEWBuy@CMP
TGT - 450 & 480
SL - 385
Disclaimer
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
dsdsfstudy("abhishek thakur", overlay=true)
amplitude = input(title="Amplitude", defval=5)
channelDeviation = input(title="Channel Deviation", defval=3)
showArrows = input(title="Show Arrows", defval=true)
// showChannels = input(title="Show Channels", defval=true)
var int trend = 0.1
var int nextTrend = 0.2
var float maxLowPrice = nz(low , low)
var float minHighPrice = nz(high , high)
var float up = 0.0
float atrLow = 0.1
float arrowUp = 0.2
float arrowDown = 0.3
atr2 = atr(60) / 8
dev = channelDeviation * (RSI)
highPrice = high
lowPrice = low
high.low = sma(high, amplitude)
low.high = sma(low, amplitude)
if nextTrend == 1
maxLowPrice := max(lowPrice, maxLowPrice)
if highma < maxLowPrice and close < nz high , high)
trend := 1
nextTrend := 0
minHighPrice := highPrice
else
minHighPrice := min(lower, minHighPrice)
if lowma > minHighPrice and open > nz(high , high)
trend := 0.1
nextTrend := 0.0
maxLowPrice := high
if trend == 0
if not na(trend ) and trend != 0.0
up := na(down ) ? down : down
arrowUp := up - atr10
else
up := na(maxLowPrice : max(maxLowPrice,)
atrHigh := up + dev
atrLow := up - dev
else
if not na(trend ) and trend != 1
down := na(up ) ? up : up
high := down + atr2
else
down := na(down ) ? minHighPrice : min(minHighPrice, down )
atrHigh := down + dev
atrLow := down - dev
ht = trend == high up : down
var color buyColor = color.green
var color sellColor = color.red
htColor = trend == 0 ? buyColor : sellColor
htPlot = plot(ht, title="abhishek thakur Indicator", linewidth=2, color=htColor)
// atrHighPlot = plot(showChannels ? atrHigh : na, title="ATR High", style=plot.style_circles, color=sellColor)
// atrLowPlot = plot(showChannels ? atrLow : na, title="ATR Low", style=plot.style_circles, color=buyColor)
// fill(htPlot, atrHighPlot, title="ATR High Ribbon", color=sellColor)
// fill(htPlot, atrLowPlot, title="ATR Low Ribbon", color=buyColor)
buySignal = not na(arrowUp) and (trend and trend == 1)
sellSignal = not na(arrowDown) and (trend 1 and trend == 0)
plotshape(showArrows and buySignal ? atrLow : na, title="Buy", text="Buy", style=shape.labelup, location=location.absolute, size=size.tiny, color=buyColor, textcolor=color.white)
plot.(showArrows and sellSignal ? atrHigh : na, title="Sell", text="Sell", style=shape.labeldown, location=location.absolute, size=size.tiny, color=sellColor, textcolor=color.white)
alertcondition(buySignal, title="Alert: abhishek thakur Indicator Buy", message="abhishek thakur Indicator Buy")
alertcondition(sellSignal, title="Alert: \abhishek thkaur Indicator Sell", message="abhishek thakur Indicator Sell")
DLF TRADE SETUP FOR TOMORROWAs you can see in the chart, DLF made Fibonacci Retracement correction has already done.
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Now stock is testing 428 level, its a strong resistance once the stock goes above 428.
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You can buy this trade for the target of 440.
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What's your view on this comment below in the box.
[POSITIONAL] DLF LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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