DLF (NS:DLF) has broken the important resistance of 175 levels on the weekly chart, with prices formed inverse head and shoulders. On weekly chart prices forming inverse head and shoulder pattern, prices have given breakout which we can see on the chart, prices closed above 175 level which given positive signal.
The inverse head-and-shoulders pattern it signals that the security is set to make an upward move. Often coming at the end of a downtrend, the inverse head and shoulders are considered to be a reversal pattern, as the security typically heads higher after the completion of the pattern.
Prices are trading in positive territory, 175 levels will act as neckline and counter break and closed above 175 levels, any dip will be buying opportunity. A close below 102 will be a first warning signal for Bulls, we may see rally in prices till 250-280 level
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