Rationale Repeated failure to scale the Rs. 200 mark bolsters already bearish tech setup - bear inside day reversal and 5,10 DMA bear cross on the dailies
Bear flag breakdown has opened the doors to Rs. 200 Keep tight stops.
Go Long on DLF @ 216 for the targets of 250 and 270!
DLF has given Perfect KBO Setup along with Regular Bullish Divergence. Generally this kind of Setup causes Rocket movement. Also recent Bull Fractal was broken suggesting Buyers have strong Momentum. Strong Resistance is around 674 Levels.
DLF is making new highs and higher lows that is building momentum in the price action. On monthly chart, it seems like it is urge to breakout from down trend line. It is good to keep an eye on such price action.
Even though the opening spike on 30th MAY have breached our SL, the trade is still very valid. i see DLF achieving our first target with high probability.
It's a simple trade idea, Sell on resistance, Cover on Support.
Bullish Gartley pattern seen on DLF - February series target is 110+ with a SL of 92.3 www.tradingview.com
If 110.00 sustain on closing basis. We can see 138, 143, 155, 169.