Thursday, November 6, 2014

DLF (By EOD - Nov 7)


Looks like at 139.20 we can short with SL around 142.
Monthly Chart:

1) Sell signal - MACD - in the developing candle.
2) current candle will hit falling resistance line at: 141.60 (approx)
Weekly Chart:

1) Bearish cross over of 21SMA with 34SMA in last week's candle.
2) this week's candle will hit falling resistance line at: 139.80 (approx)
Day Chart:

1)Stochastic = 67, RSI=46
2)MACD is buy from Oct 30
Hour Chart:

1)RSI=71; Stochastic=90.4
2) 5EMA and 21SMA have acted as Support1 and support2 in the whole of x-a3-b3-c3-d3 so far.
3) If price does not reach ChR1 before 12 noon, then it suggests that e3 is further high from 139.
5min Chart:

to be written.

Monday, November 3, 2014

DLF (by EOD Nov 3)


Observe the blue ascending triangle in the hour and 5min charts.
Expecting a 5wave pattern so that we will have 3-3-5 Flat Correction.
This gives possibility of going long at d3. And either exit on the top of the ascending triangle or with trailing SL travel till e3.
d3 may be around 124 and top of the blue ascending line is around 130.
and shorting around 138 (diagonal channel's top). (Note that, WR2=138)
Reference for Ascending triangle:

Monthly chart:

Sell signal in MACD is visible in the current candle.
Weekly chart:
21 and 34 SMA is giving bearish cross over in the current candle.
5min chart:
-ve divergence is seen in RSI. (This supports possible move towards d3)
60min FUT chart:
With respect to DLF Nov FUT 60 min chart,

(1) we could see a different parallel channel.
(2) till it touches the upper line of the channel, we can buy at support blue line and exit at upper channel line.
(3) FUT chart suggest possible end of wave4 is around 132.5.
(4) On Oct 14th, gap starts at: 132.20.