Technical Pick – DHFL
•DHFL is finding support at 540 and resistance above 560.
•On Daily chart, DHFL is showing breakout point above 560 level.Break and sustain above 560 will see nonstop rally in DHFL till 580--590++ in weeks to come.
•DHFL has been trading in a broader range of 214--559 for last one year.
•MACD showing positive momentum which indicates that upside side seems certain in it.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 580--590+++mark in coming weeks.
For positional trade, stop loss seeing below 540 on closing basis which in unlikely to breach in near terms.
Trading Recommendation(06-09-17)
Buy DHFL above 560 and for the initial upside target of 580--590++ mark with stop loss below 540 on closing basis.
More will update soon!!
