DLF – Poised for fresh sell-off?

Daily chart

dlf.jpg

This could turn out to be a classic case where the MACD traps its followers. It has just turned positive at a time when the share price is failing near falling channel resistance.

Personally, I would want to see Monday’s action. If I see another failure at the falling channel, I would hit the sell button. Two consecutive failures at falling trend line could result in a fresh sell-off to channel support.

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