Monday 29 December 2014

DLF Ltd Buy

DLF Ltd Buy

Period 1 Month
CMP 138.5
Entry Level 140
Stop Loss 128
Target 1 152
Target 2 164
Stock has given breakout from
its range of 129-138. Stock has
consolidated around these levels
and now looks for new upward
rally till 160. We can see in chart
that stock has gone above its
10DMA and 50DMA at 135.8 and
136.8 Stock has also made
‘Triple Bottom’ around 129 along
with given breakout from its
‘Symmetrical Triangle Pattern’ on
upside. Stock has made ‘Bullish
Engulfing Pattern’ after the form
of ‘Insider Bar Pattern’ indicating
upside trend with limited
downside risk. Stochastic
Oscillator is also moving in
positive trend indicating upward
movement along with increase in
volume. We can see stock to go
up till 152-164 once it goes and
close above 141 odd level.


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