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ValueProductPastPerformance

Company NameReco DateReco PriceExit PriceExit Date% ReturnIn days
Bharat Forge Ltd. 25/07/20241,593.85952.3007/04/2025 -40.25% 256 days
ITC Ltd. 28/12/2023464.20487.5002/01/2025 5.02% 1 yrs
Britannia Industries Ltd. 27/07/20234,875.805,028.2512/11/2024 3.13% 1 yrs
JSW Steel Ltd. 22/02/2024826.951,003.0026/09/2024 21.29% 217 days
Bajaj Auto Ltd. 22/08/20249,910.0011,930.0017/09/2024 20.38% 26 days
Dr. Reddy's Laboratories Ltd. 26/10/20235,429.306,536.0005/07/2024 20.38% 253 days
Shriram Finance Ltd. 25/04/20242,430.102,955.0028/06/2024 21.60% 64 days
Coal India Ltd. 25/01/2024389.50501.6022/05/2024 28.78% 118 days
Infosys Ltd. 27/10/20221,522.601,411.6019/04/2024 -7.29% 1 yrs
State Bank Of India 25/05/2023581.30782.0505/03/2024 34.53% 285 days

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DLF gives trendline breakout
Vinayak Gangule
/ Categories: Trending

DLF gives trendline breakout

Considering the daily timeframe, the stock of DLF Limited has given a downward sloping trendline breakout, formed by connecting swing highs from March 2020. The breakout was supported by robust volumes. Additionally, the stock had formed a bullish opening Marubozu candle on the breakout day, which indicates extreme bullishness.

The stock has managed to successfully close above its crucial short-term moving average i.e. 50-day EMA, after a span of over three months. The leading indicator, 14-period daily RSI, is currently quoting at 60.34 and it is trading above its nine-day average. The daily MACD stays bullish as it is trading above its zero line and signal line. Moreover, the surge in +DI is suggesting that the trend will strengthen further.

Going ahead, we expect the bias to remain positive as long as the stock sustains above Friday’s low of Rs 140 level. On the higher side, the level of Rs 159, followed by Rs 172.60, would be seen as the next resistance zone for the stock.

On Friday, the stock of DLF closed at Rs 150.65 per share, surged by 4.58 per cent. The stock opened at Rs 140 per share and hit an intraday high of Rs 152.85 and a low of Rs 140 per share on NSE.

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