The plot of the story and types of speech employed in it

The introduction of the story is the 3d person description of a poor flat where the main characters live. The story is about a young married couple - Jim and Della. They live in a cheap flat and don't have enough money for buying presents for Christmas.They have only two treasures - Jim's gold watch that had been his father's and his grandfather's and Della's beautiful hair which reached below her knee. 

Della decided to sell her hair in order to buy a chain on Jim's watch. She is very happy, but she is afraid whether Jim will appreciate her sacrifice and love her with short hair. The third person narration is combined with the elements of a dialogue and interior monologue. 

The climax of the story is when Jim presents combs to Della, but now her hair is short. The reader can assume where Jim got money for buying the combs. Jim is also shocked by Della's present as doesn't need a chain any more.

The anticlimax is "Dell," said he, "let's put our Christmas presents away and keep 'em a while. They're too nice to use just at present. I sold the watch to get the money to buy your combs. And now suppose you put the chops on."

The conclusion of the story is written as the 1st person narrative by the author, who compares main characters to the magi as they are the wisest.