Trade Idea of The Day - DLF Ltd Target Rs.11 - Religare Broking Ltd
DLF Ltd
BUY 23 NOV 700 CALL SELL 23 NOV 710 CALL Entry Range 4 – 4.5 Target 11 Stop Loss 1
Rationale
• DLF demonstrates strong bullish momentum following a decisive breakout above its prolonged rectangular consolidation channel.
• The latest wide-range green candle shows strong buying momentum and institutional participation with conviction, confirming aggressive buyers regaining control.
• Price trades comfortably above key exponential moving averages, with short-term moving averages sloping upward and maintaining a healthy bullish alignment over long-term trend filters.
• Additionally, expanding trading volume during this upside breakout confirms genuine buying participation rather than a false trigger.
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