DLF trade ideas
DLF bullish DLF on daily charts has completed a 3 wave complex correction and now again started to move up with a impulse wave on minor time frame , with the momentum indicators turning to buy again , one look to take Longs with stop Loss at 360 for this stock making new swings highs again upside targets would be 430/480
DLF PRICE ACTION ANALYSIS 📈🔥NSE:DLF broke out of a major trendline(kind of a cup and handle pattern) and is undergoing slow consolidation in a flag like pattern.
Enter at the break of the flag trendline and hold for big targets after price crosses and sustains above 450 levels.
Targets are open for this one.
Place sl below 340 and trail with preferred MAs.
Risky trade but high reward.
Position size accordingly. HAPPY TRADING.
DLF - Ascending channel - Weekly TFDLF - Weekly TF - Moving in an ascending channel. Currently bouncing from the bottom of the channel. Trading above 30 WEMA suggests in Stage 2 Uptrend. MACD on daily TF has seen a crossover. RS is positive. Will be weak if closes below 30WEMA.
Only for educational purposes, not a buy/sell recommendation.
DLFNSE:DLF
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DLF 8-10-21The stock is near a multi-year breakout on a monthly chart. On an hourly chart this has formed a bullish flag pattern (the red line indicating pole of the flag). The stock is an amazing buy if it closes above 430 on an hourly chart. Buy on dips is recommended if it closes above 440 on an weekly chart. Stock having potential of giving 90-100% returns in long term.
CMP : 416.30
ENTRY : 430
TARGET 1 : 500