DFML - A Long Term Bearish Trend confirmedDewan Farooque Motors LimitedPSX_DLY:DFMLkashif493DFML (16.46) 11-10-2026 DFML completed its Elliott wave pattern around 55 in FEB/25 with wave-3 extension. Since then it is in corrective wave-A. In May/25, it broke the level of (34.50) and entered into a period of a long-term downward bearish move. In Mar/26, it retraced almost 100% of extended wave-3 confirming invalidation of previous impulsive move. Expectation of a clean upward trending move stands ended. Now, there are two scenarios:- Scenario-1: Wave-A is complete. Now it will move upward to form months-long bull trap (B-wave). Minimum target will be 25. In this case, it should immediately regain 17.60. Scenario-2: Wave-A is not complete. Price will fall to 12.90. First indication of it will come when price fails to sustain level of 17.60. (Already trading below 17.60). Reasons:- 1. Overall structure is wave-3 extension 2. Wave-A is impulsive with wave-3 extension Do Your Own Reasearch No Claim, No Blame