SWING IDEA - DLF
Updated
DLF, a major player in the real estate sector, is showing promising technical signals for a swing trade.
Reasons are listed below :
Target - 967 // 1030
Stoploss - weekly close below 795
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Break of Flag and Pole Pattern: The stock has broken out of a flag and pole pattern, a continuation pattern indicating the potential for further upside in the ongoing trend.
- 800 Zone as a Strong Support: The 800 level has proven to be a solid support zone. The price is currently bouncing back from this level, suggesting that buyers are stepping in to support the price.
- Bullish Engulfing Candle on Weekly Timeframe: The formation of a bullish engulfing candle on the weekly chart indicates strong buying pressure, which often leads to a continuation of the upward trend.
- Trading Above 50 and 200 EMA: DLF is trading above both the 50-day and 200-day exponential moving averages, reinforcing the bullish sentiment and indicating strong support at these levels.
- Intact Uptrend: The overall trend remains intact, suggesting that the stock is in a strong upward trajectory with the potential for further gains.
Target - 967 // 1030
Stoploss - weekly close below 795
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
bullish marubozu candle on weekly timeframe, hold!Note
price is now trading above our buying priceNote
made a high of 6%++Trade closed: stop reached
stoploss hit : -10%
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