target short side

Dear friends,

DLF appears to be in a persistent down trend, price decreasing, accumulation/distribution index decreasing, daily RSI is showing lower peaks (not yet hit the oversold area), adx rising. Request your comments and likely target lower side.

 

Hi Vilas,

Very good post indeed. DLF has been a falling knife, on July 26 it was around 175 and now on Aug 2 it has hit low of 125.
Keep it mind that it has upcoming results on Aug12, on account of that, you might see some pullback(for that matter, pullback is not guaranteed - just my guess, may give pullback to 140/145 zone).
Fundamentally, results won't be good. DLF is laden with debt and they have still not managed to sell off Aman estates which they have been talking about since quite some time now. To me as it looks, DLF is a SELL.

Technical gurus,
Please post your views on DLF.

 

Thanks Shabbir da....

By that do you mean that before results, DLF has a chance to spike to 150/160 zone? Then its a perfect candidate to short ???

 

Thanks Saptarshi and Shabbir, I am already in the trade, probably should get out and re-enter at higher levels as DLF is at its historical lows, your advice seems to be sound.

 

You're most welcome Vilas.

I'm also looking for the opportunity to enter into the trade, but would wait as Shabbir thinks so. Let's see, only thing is that if Nifty breaks loose another few odd points from here, DLF is bound to fall. But as Shabbir suggested, we should look to short in spikes.
Let's see what happens as DLF is approaching Q1 results.
Please keep us posted if you're re-entering the trade, I am also keen in going along too buddy.
Cheers! & keep this thread alive

 

Exited DLF with a small profit. Waiting for spike to re-enter. RSI has reached oversold area and vol has also increased significantly, lets hope for an early bounce.

 

Hi Shabbir, Please share your view on DLF, I can see the perfect W pattern for this.I know that I am late but is it still a good time to buy it ?

Thanks & Regards
Sunil Yadav

 

Thanks Shabbir