DLF 1H

Exponential Moving Averages (EMAs):
The chart displays multiple EMAs (20, 50, 100, 200) as colored lines:

Red:
EMA 20 at 908.20
Orange:
EMA 50 at 887.65
Blue:
EMA 100 at 870.84
Purple:
EMA 200 at 858.31

These EMAs are used to show the stock's trend over different time frames, with shorter-term EMAs above the longer-term ones, indicating a bullish trend.

Breakout Area:
The price appears to have broken above a previous resistance level around ₹905-₹908. This area is now acting as support, with a bullish breakout confirmed by the price moving above it. A white horizontal line marks the former resistance level.

Entry, Stop Loss, and Target:

Entry:
The trade appears to have been entered at around ₹921 (the current price level).
Stop Loss:
The stop loss is set just below the newly established support at around ₹893, marked with a red box.
Target:
The target price is set at ₹961, marked by a green box indicating a potential take-profit zone.

Trend Analysis:
The price has been moving upward, and the alignment of the EMAs suggests a bullish momentum. After the breakout, the stock retested the support level and is showing signs of a continuation towards the upper target.

In summary, this setup represents a bullish breakout with clear entry, stop loss, and take-profit levels. The trade is based on the assumption that the price will continue its upward movement after breaking and retesting the resistance, now turned support.
Technical IndicatorsSupport and ResistanceTrend Analysis

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