SHARDACROP & DBCORP: Two Bright Spots in a Challenging MarketSharda Cropchem
● The stock price is evidently experiencing a robust upward trend.
● After a brief consolidation phase, it developed a Rounding Bottom pattern, and following a breakout, it has surged to an all-time high.
● The increasing buying volume suggests that the stock could continue to rise significantly.
D.B. Corp
● The stock price is currently moving within an Ascending Parallel channel.
● After reaching an all-time high around the 404 mark, the stock experienced a pullback to its trendline support level.
● Having rebounded from this support, the stock price is now poised for upward movement.
DBCORP
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DBCORP - Long Setup, Move is ON..NSE:DBCORP
✅ #DBCORP trading above Resistance of 296
✅ Next Resistance is at 408
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
DBCORP --INTRADAY SETUP -- 23/02/2023DBCORP -INTRADAY SETUP -- 23/02/2023 --HOURLY CHART
1. Stock trading at lower channel at hourly chart ,
2. AT 98,25 level double bottom seen on hourly chart last closing session .
3. stock seen near lower channel breakout level last closing hourly candle
4. INTRADAY BUY CAN INITIATE above 99.75 level ( 15 min candle close above 99.75 ) FOR INTRADAY TARGET 102-104 stop loss bellow double bottom support at 97
5 TRIX positive crossover seen at last closing hourly candle near 0 line .
6 . intraday support 98-99 Resistance 102-104
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ... ** trade at own risk .!!
** HAPPY TRADING !!
** THIS IDEA IS FOR
DB Corp- Support Broken DB Corp Ltd is from publishing sector engaged in the sale of newspaper & magazines and advertisement revenue having moderate fundamentals. Recent result is not so good .Volume breakout happened on September 2022 and breaks its 52 week high . Recent support was at 105 level and broken that level last weak. Expecting a steep down trend now for a short term . Immediate support is at 70-75 levels. Eventhough promorters have more than 70% stake , they are decreasing their holding QoQ .
Buy D.B CorpD. B Corp looking good on weekly and daily chart ( Multi Time frame analysis)
Stock is in consolidation mode from more than 2 years after a fall from 450 level.
Technical Indicator
RSI-greater than 62 showing bullish momentum
Stock has retraced from 150 level in Sept to 119 level
Again volumes are rising on green candles looks like stock is ready for next move.
Volume action- More than 4 lakh shares delievery was taken on 21 oct
Fundamental Indicator
ROCE (10.4% ) not so good as compared to peers
Promoter holding has increased by 1.3% from June to Sept quater
FII stake has increased
Holding period 3-4 months
Accumulate in the price range of 120-108
Target- 150
SL-103
DBCORPDb corp on a weekly timeframe looks good for upside. It has been on a downtrend and seems to be forming an inverted head and shoulder pattern. Once it sustains above 100 levels, we can see good upside up to 160 and further levels (in fact much higher than 160).
Please note I’m not a registered analyst. Please analyse your self before investing
Bullish case for DB CorpDb Corp has broken out of its post crash consolidation by clearly crossing the resistence line at 89 with fairly high volumes.
As long as the stock stays above 90, we can expect higher levels in the short term.
The 50 % Fibonacci price retracement level comes to 102 odd. This matches a short term price resistance level on the chart at 104.
Otoh, the 78.6 % Fibonacci price retracement level comes to 127.95 which is close to a technical resistance in the chart at around 123.
Cmp 93
Sl (closing basis) 89
Tgt (short term) 104
Tgt (medium term) 123
Happy trading.
► Bottom Fishing Pick #1: DBCORP ◄► Bottom Fishing Pick #1 ◄
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📌 Buying Level:
Entry: ▲ 90
SL: ☢ 82
Target: ➚ 110/130/150
Thank you. Happy Trading!!!
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𝘿𝙧. 𝙎𝙝𝙖𝙢𝙧𝙖𝙟𝙖 𝙉𝙖𝙙𝙖𝙧
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✬ Disclaimer ✬
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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