DALBHARAT : Trading at interesting levelsDalmia Bharat (NSE: DALBHARAT) is showing a completed corrective leg into a demand zone around 2015–2048, with a bullish reversal setup aiming first toward 2,383 and then 2,577–2,660 if the higher swing resumes, while risk is defined by a daily close below 1,774 as invalidation/stop level.
Trend context
Price is in a broader uptrend since March 2025, with a 52-week range of ₹1,601–₹2,496 and the current spot near ₹2,084, indicating a retracement within a still-intact higher timeframe structure typical for mid-cap cement leaders.
Recent sessions show a narrow day range ₹2,070–₹2,100, suggesting compression after a decline from the September high near ₹2,496, which often precedes a directional move from support.
Wave and structure
The drawn count reflects an A–B–C intermediate correction, with wave C terminating into 2015–2048; this aligns with a typical measured correction completing near prior breakout basing zones and liquidity pools around the round ₹2,000 handle.
A change of character after the last impulse down plus a prospective break-of-structure higher would confirm that the corrective B/2 has ended and a new impulsive leg toward prior supply is underway.
Key levels
First buy zone: 1,880–1,920 on deeper wicks, with primary “first entry” emphasis beginning near the low-₹1,9xxs only if retested; this corresponds to the lower end of the highlighted completion area and sits above the invalidation line.
Second buy zone: 2,015–2,048, the active demand band shown on the chart and close to current market price; reactive entries here need confirmation via strong close back above 2,050–2,060.
Targets
Initial target: 2,380–2,385, which matches roughly a 78% retracement of the last downswing and aligns with a visible supply shelf from October; partial profits are prudent here due to overhead resistance.
Secondary target zone: 2,577–2,660, overlapping the prior distribution block below the 52-week high and a logical wave C-to-new-impulse projection; this is the stretch objective if momentum expands and sector tailwinds persist.
Risk management
Invalidation/stop: Daily close below 1,774, which would break the higher low structure and negate the completion thesis of wave C; below this, risk of a larger timeframe correction toward the mid-₹1,700s increases.
For near-term execution, keep risk tight under the intraday swing low of the entry day and trail below higher lows if price accelerates from 2,015–2,048 toward 2,150–2,200, where minor resistance may appear from late-October prints.
Momentum and confirmations
Watch for a decisive close back above 2,100–2,120 with expanding volume relative to the recent 2.1–2.2 lakh shares/day; that would validate demand absorption at the zone and set up the 2,200–2,250 pocket as a fast follow-through area.
A reclaim of 2,250 opens the path to 2,380; failure to reclaim 2,100 and repeated closes below 2,020 would keep the setup tactical and caution against early scaling.
