DCB Bank has been consolidating and has formed a Cup and Handle pattern on daily charts. The stock has also closed above its 200 EMA at 179.4. The stock seems to have pulled back from the 200 EMA and is about the break out of the Cup and Handle pattern.
One can go long on this counter above 182 with Target of 187/191/197, keeping Stop loss below 174 (closing basis).
Future Lot size: 4500.
Risk/Reward Ratio: 3.
One can go long on this counter above 182 with Target of 187/191/197, keeping Stop loss below 174 (closing basis).
Future Lot size: 4500.
Risk/Reward Ratio: 3.
Trade active:
Stop loss changed to 171, closing basis.
