Monday, December 15, 2014

DLF (By Dec 15, EOD)


Strategy:
Sell when price touches the resistance line of downward blue channel.

I see the following:
5th wave of 3rd down wave (ref: 10min ch) is likely to end at: 142.8.
Small bounce for 4th wave.(upto: 147.xx) (max upto: 149.xx)
Then 5th down wave. (to 136.xx)

(this 5th wave either may end at: 136.xx or may not go beyond 3 for truncated 5. As the length is expected to be same as 1 (8.8 pts), all depends on how much correction 4th wave is going to give.)

174.87: Montly Ch Res
158.28: HEMA
156.12: Weekly Pivot
156.02: Upper Band
153.89: Lower Band
152.10: 5EMA
149.94: 21SMA
149.77: LEMA
147.97: 38.2% retracement of the fall: 154.15 to 144.15
146.20: Weekly S1
141.82: 50SMA
140.83: 38% retracement of the upmove 100.1 to 166
140.30: Monthly Ch Support
140.15: Weekly S2
136.x: BIG SUPPORT
125.27: 61.8% retracement of the upmove 100.1 to 166




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