12 Jan 2021 ● 03:25 PM
DLF did not make new all-time lows in 2020 relative to its previous bottom in 2016. During this period it has gone through a deleveraging phase which may fit in with the idea that the ending diagonal in 2016 was the bottom. What followed then was a leading diagonal in wave 1 and the subsequent decline in wave 2 to make a higher bottom in 2020. Wave 2 is an exact 78.6% retracement of wave 1 and wave 3 is now in formation. Prices are close to going past the wave 1 high of 273 and the next 3 resistance levels from previous swing highs are at 289, 397, and 490.