DLF (By Nov 24 EOD)

Reasons for possible reversal:

• 5th wave ( (4) to (5) ) looks like ending diagonal (boundaries marked in blue). So, sharp down move is expected.
• 5th wave started from bottom of yellow diagonal, broke out of the yellow diagonal. (Possible false breakout at 5th point in the yellow diagonal.)
• Hour RSI is high.
• -ve divergence seen 5min (RSI).
• NIFTY's day chart suggests that Channel top is just couple of points away. And due for a correction.

Shortable Levels:

• 151 Reason:
• At 151.75 (approx) two wolf target lines meet
• As per Table1, 38.2% retracement of 3rd wave is 151.17
• As per Table3, 361.8% retracement of Wave3 is 151.xx
• On Oct 13th, max price value was 151.xx
• Ending diagonal seen in hour chart may not allow last 5th wave to reach its target (153.xx) suggested by day chart.
• Two Wolf target lines (emerging from two diagonals of final 5th waves) meet at: 151.65
• 153 Reason:
• Tuesday candle can meet the red channel top at: 153.xx
• 153 - 44 = 109 = Starting of C wave of Day Chart.(Table2), where 44 is the length of wave1 of Table1.
• In the monthly chart, resistance line2 provides resistance at: 153.xx
• As per Table1, 40% retracement of 3rd wave is 153.xx
• 154 Reason:
• Consider the C wave. Let us look at hour chart. C has 5 waves and 3rd wave has sub-division. 1st wave took 21 candles (ends inclusive) to travel 18 points. Sofar 5th wave has taken 16 candles to travel 12.3 points. If these two waves are going to be equal, in the 5th candle of Tuesday price should reach 154.xx. That is, the candle that ends at 2pm should see 154. 

Monthly chart:

• MACD sell signal has gone in the current candle.

Weekly Chart:

• 21 SMA doing bearish cross with 50 SMA
• today's low is channel's bottom.
• Channel resistance is at: 160.xx 

DayChart:

• Price closed above 50 Day SMA.

Hour Chart:

• Price crossed Weekly Resistance2 (148.36)
• RSI = 72.14 and Stochastic = 95.52

5min Chart:

• This clearly shows the last 5th wave.
• -ve div is seen in RSI.

NIFTY Day Chart:

• NIFTY is just couple of points away from channel top. So, decent correction is due.
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NIFTY 5min chart:

• -ve divergence is seen in RSI of 5min chart.
• price is on Weekly R1.