Dalmiya bharat
CMP 2794
Target 3250
Stop 2675
Time frame - short term.
Chart TF - Daily

Rationale :
1) Stock has managed to move back above 200 EMA with good volumes.
2) Incidentally, this has been one of the strong long term support zones as well.
3) Currently stock is in the process of taking a breather with low volatility ; usually low volatility is the sign of a vol expansion and the last 3-4 days price action suggests the probability of vol expansion favouring upside is relatively good.
4) Stock price action has led to the relative strength break the downward sloping resistance line suggesting that there has been some interest in this stock compared to broader index.
5) Stochastic crossover in the oversold zone should provide additional comfort with a much favoured risk reward.
6) Historically stock has gone below 200 ema on 2 occasions and has managed to cross above 200 ema immediately with stoch crossover in the oversold zone. Stock has given good returns post this event. Current scenario is possibly the third time.

Strategy :

Traders can go long on current series futures at cmp . Adust stops as the indicated levels are for spot.
Trading is my passion.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out