DFML MULTIPLE CONFLUENCE SHORT-SELL/EXIT CALL

DFML was range-bound till April 2024 and assumed uptrend, touching a high of 55 in a short span of 6 months. It formed Toping Formation in the shape of famous Double Top - as seen on the chart. It seems to have broken down the neckline of Double Top and is now trending in a Downward Channel (Pink channel on chart). Targets have been calculated from Measured Move Projections.

🚨 TECHNICAL SHORT-SELL/EXIT CALL – DFML 🚨
🎯 SHORT-SELL/EXIT ZONE: Rs. 36.5-35.15
📈 TP1 : Rs. 27.55
📈 TP2 : Rs. 21.15
📈 TP3 : Rs. 14.6-13.33 (long-term)
🛑 STOP LOSS: BELOW Rs. 39.5 (Daily Close)

NOTE – Prices are of ready market

📊 RISK-REWARD: High Conviction | 1:5
Caution: Please enter/exit in 3 parts in given range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.