DHFL has my attention mid term.

Looks like, its inching towards completion of this consolidation after that furious dump. Honestly , its a bit difficult to say how it will or might turn out. But I have my most probable count bearish which i'll be watching and playing for the next few weeks. i have taken this downturn as an impulse on the shorter time frames as it all happened so fast . So that means my count has it doing a consolidation after the 5 waves down. This consolidation itself is giving bearish indications which is the sole reason for me being bearish short term. This Larger C in the end is looking more like an extended flat . would be interesting to see if goes up up to give bearish divergence on the RSI or it could all be for nothing and it goes for an extended c of C or a larger WXY up . In that case it could look something like UTAD ( INR 275-340) . Both short opportunities are good enough with confirmations . we'll know as new information comes in.

This count is valid till it stays below INR 695-700 range. Any below this level could be considered as larger wave 2 up.

Conclusively, this impulse could be making a larger WXY correction downwards so if you have patience , you'll find out there are several profitable plays bothe ways in DHFL right now as i see it .

A break below INR 175-180 range would confirm this count .Just remember , Sideways is never out of the picture.

This is not an investment advice and just a picture of how I see it. Opinions may vary from person to person so make your own decisions and trade on THEM.

Thank You


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