January 2, 2014

DLF Ascending Triangle and Resistance levels

  • DLF Weekly chart shows a big Ascending triangle formation. But the resistance levels of the Ascending triangle between 173 - 175 has acted as strong support in the past as shown in chart 2. So bulls need a strong breakout and and weekly close above 175 levels to confirm breakout. 
  • For now though a Down Swing is happening in daily chart which may last till the up trend line. If the rising support line is held another test of 173 - 175 levels is likely to happen
  • BHARTI AIRTEL Chart Analysis

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