DLF Limited (DLF) Stock - Complete Technical Analysis - Oct 22, 2024

Technical Analysis of DLF Limited: Is a Bullish Reversal Coming

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

In this technical analysis of DLF Limited, currently priced at 815, we observe a significant decline from its 52-week high of 967.6. The stock is trading 58.74% above its low of 513.5, indicating a bullish recovery since October 2023. Recent trading activity shows the stock opened at 858 and closed lower at 815, suggesting potential bearish sentiment among traders.

The Average Directional Index, sitting at 14.61, highlights weak trend strength. The RSI is at 39.32, approaching oversold conditions, indicating a possible reversal opportunity. The MACD remains negative, emphasizing bearish momentum.

Crucial support levels are seen at 826.8 and 758.45, while resistance sits at around 877.9. If the stock breaks through this resistance, it may signal a bullish trend reversal. Overall, the analysis suggests that traders should be vigilant for potential upward movement while keeping an eye on the key support levels.