August 14, 2012
- There is a triangle pattern in the daily chart and 20 SMA in the middle of the triangle pattern.
- 50 Day SMA and the triangle support line are crucial supports for BN.
- Price is getting support at 50 Day SMA. Sustaining above 20 SMA should take BN towards the upper resistance line of the triangle pattern.
- DLF RESISTANCE LEVLES
- DLF Bulls will gain momentum on trading above the resistance line and 220 levels as shown in last chart. A weekly close above the cloud would also help the stock to move towards 232 which is the 100 Week SMA. Price is likely to get resisted at 100 Week SMA.
- For a bigger up move in this stock price must trade above 100 Week SMA. Unable to cross above 220 levels will be negative in the very short term.