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.
- 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.
(analyzed for DMurthy, Namakkal)
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