DLF

DLF

DLF is one of the well known stocks for most of the traders and Investors as well. After in consolidation for almost 6 to 8 months and forming treble bottom stock resumed its uptrend. Stock is moving in an upward channel with 50 points of depth. higher lows and higher highs represent the strong uptrend of the stock.

Short Term:

For DLF worst seems to be over. After a news over scam revolving the market, stock becomes strong. Could be due to assets it hold.Technically stock is in strong uptrend with Higher Highs and Higher Lows. Stock made a strong base before starting this channel momentum. Stock may see 300 levels soon. I suggest a buy on the stock whenever stock gives an opportunity in the channel to go long with SL at bottom of the channel approximately 255 to see 289 and 300 in shorter period of time.

Long Term:

Every Investor need to see and select the stocks having this type of chart patterns. DLF moving very strong. However the channel depth is 50 points, stock is moving slowly forming a strategic support levels. Go long in the stock for targets of 320/370/400 in longer period. The way stock is moving and having the patterns, stock can make these levels.

Note: Hold the stock with strict SL. market trend seems to be negative until it crosses 5880/5920 to go to previous highs or make new highs. DLF being a stock in indices, it also may correct if Nifty start correcting. But stock pattern wise, stock is technically holding the levels and inching up.