DLF: Showing Recovery Signs

DLF Daily NSE Stock Chart Technical Analysis:


DLF is range-bound since last 2 weeks, but closed slightly above resistance today.  Today's close & CMP: 287

Market Outlook:

• The price could rise again on Friday, the resistance is at 297.
• In the coming week price could fall again.  But if it succeeds to remain above 286, then there is a good chance that it will soon break out from its resistance at 297 as well.
• But I wouldn't take any position in the stock tomorrow morning, no exact trade signal yet.

Technical Indicators:

• The price is currently near its 23.6% Fibonacci Retracement.
• A doji candlestick has formed today and the price closed near its opening.
• Its a good sign that the price recovered after falling below its support @286 today, and closed higher.
• Next week the price will face a downward momentum, that is when we should be able to decide where this stock is headed.
• There is a momentum rise in the weekly chart (not shown here), depicting that this stock could be on its way up in January.
• DLF has suffered a lot from the LIC Housing scam.  If any negative news appears about DLF's involvements during the investigation, it could seriously affect the price.  So that is the X-factor which could upset all expectations.  Otherwise, the stock is showing good recovery.

DLF Daily NSE Stock Chart Technical Analysis


(analyzed for DMurthy, Namakkal)