DLF Limited (DLF) Stock - Complete Technical Analysis - Nov 07, 2024

DLF Stock Technical Analysis: Key Support & Resistance Levels for Traders (Nov 2024) DLF Stock Fo

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.

DLF Limited's stock is trading at 803.40, significantly below its 52-week high of 967.6, signaling potential for continued short-term pressure. The stock is currently hovering near a key support level of 801.55, suggesting a critical range for traders. If the price breaches this level, the stock could test lower levels near 773.55.

Technical indicators like the RSI at 43.7 reflect neutral to slightly bearish sentiment, indicating that DLF might be entering oversold conditions, opening up possibilities for a reversal. The MACD is in negative territory, confirming the downward momentum, but it is important to note the potential for short-term corrections. The ADX of 22.7 indicates weak trend strength, reinforcing the idea that the stock is in a range-bound phase with limited directional movement.

Resistance levels lie around 828 and 840, so traders should watch for price action near these levels. The EMAs suggest that the stock is still under pressure, and the VWMA around 826 might act as a short-term barrier to any potential upward move. Investors should keep an eye on the support zone at 801.55 for possible bounce-back opportunities, but should also consider downside risks, with a potential test of 773 if the support fails.