Friday, 17 January 2014

DLF A COMPLTE AVOID

Has recent market recovery turned around situation for DLF stock? Well, charts speak for themselves. Have a Look


Here’s the DLF weekly Chart
As you can see in the chart above: DLF stock is in serious downtrend as it trades below all major moving averages be it 50 week ma, 100 week ma and 200 week ma. What’s worse – stock has not recovered even above it’s last support level of 176-180. The chart appears damaged beyond repair at this point of time.
One can still buy and HOPE Stock will turnaround but technically there is no evidence to suggest that stock is going to recover any time soon. Worse, there is even no evidence that stock has formed a bottom. Technically – the stock continues to be AVOID.
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