Sunday, September 20, 2015

Dlf Analysis: Abhishek Mittal

Dlf has been under performing the markets for long. Is the under performance over? Let us look at what Elliot waves have to say for this.

The waves marked in the chart above seem to be the most probable scenario as of now. The prices have completed a 4th corrective move. Now we seem to be ready for a 5th wave down which may drag prices to around 75 odd levels.
The above count will cease to validate if at all prices manage to move above 140.
The best trade setup as of now would be a short below 120 with s/l at 140 and targets of 75. If one has any long positions keep a strict stop loss at 120 and try to exit on any minor bounce back.