DLF Views!!!

I haven’t seen or traded DLF for a long time, so while analyzing the chart for a friend I was kinda interested in it. The chart below is the daily chart of DLF. First to cry over the spilled milk, O boy what a great short it had given on break of 280. A bearish H&S on both the price and the RSI, negative Divergence on MACD and Bingo as soon as the price broke down from 280(the two ema’s the 20 and the 50 were there!)It was a screaming short! Before someone points out that hindsight is always 20/20 lets move on and see what the status quo as of now is;

The chart above is sufficiently annotated; we have what we call two bottoms in place marked as B1 and B2 with a lengthy divergence on the indicators. The weekly bar (not shown here) is a NR/IB. Anyway no marks for guessing that coz the last 5 days are what seem to be NR/ID’s implying contraction. Speaking of contraction, then expansion by no means is far enough. The price is far below the MA’s so a possible pullback is not ruled out. A break above 199/200 should head for 208 and then eventually 216/18. Till the time we don’t break 232 convincingly with volumes, no point in being bullish on this stock. 180 looks like a good support for DLF as of now.

"If A equals success, then the formula is: A = X+Y+Z. X is work. Y is play. Z is keep your mouth shut." Albert Einstein