Monday, 8 April 2013

Chart Update : DLF

DLF Chart:

There are two probable patterns playing in DLF chart.
  • ·         Symmetrical Triangle
  • ·         Head and Shoulder pattern
I have marked Red Symmetrical Triangle which is almost of 12 point.  On the upside breakout level is 235 above which targets are 237.5, 241 and 247. Last target is almost equal to height of left shoulder.  245-247 is an area of stiff resistance. On the down side 231-230 is strong support below which targets are 228, 226.  If see HNS pattern playing out then I will again post updated chat during market hours. Stay tuned wild move is on cards. 

So,Plan your trade accordingly.

Note:  Intra-day trader as of now should focus and try to take advantage of symmetrical triangle pattern

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Happy Trading.


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  1. Hi,

    I have short position at 234.
    I believe HnS will play out if it closes above 235. Am i right?

    1. As of now Triangle has given breakout on upside .. it can reach till 245 to form right shoulder... as mentioned above...

    2. I would prefer to keep 5dlema as sl for short position.. as breakout got resisted there..

    3. Wt is the 5DLEMA for DLF? how do i found it out normally?

    4. go to chartink and select low instead of close