DCB BANK , trading with levelsstructure looks well , important base at 158-165 zone
upside can even be above 210 as it tested the levels multiple time . risk reward in favour on long side .
DCBBANK
DCBBANK WOLFE WAVE PATTERN DCBBANK LONG OPPORTUNITYSafe entry with LOW risk to Reward. DO study the chart and do not trade based on this post.
DCBBANK Has formed a bullish wolfe pattern.
DCBBANK looking for more downside ?
NSE:DCBBANK coming to target of 165/160. Its in perfect down trend.
DCB Bank - Channel Support.Channel Support.
Trend Line Support.
EMA Support.
Risk Reward Favourable.
Other Details Mentioned in Chart.
I am not SEBI Registered Financial Advisor.
Sellers Awaiting!DCB bank Has broken the channel as well as Trendline, and has initiated the Downtrend. We can enter at the pull Back to the Resistance.
Losing the Momentum!Price tends to be loosing the momentum to the upside. while RSI is diverging and the price is resisting from hitting the top surface of the channel.
Indicating a reversal After an Impulse Move and likely to correct towards 190.
Enter at break of the channel or by looking at the price action for good entry. If Channel is broken to the upside, Trade will get void.
70% returns in 3 months - Opportunity for a short correctionDCB Bank has eclipsed its all time high that it reached back in late 2007 when the GFC unfolded.
The stock gave a return of 70% in the last 3 months alone to its rewarding shareholders with many expecting for it to go even higher from here.
3 Months back one can argue that the stock might be undervalued but the rate of increase at this pace would have made most of them surprised.
This seems like a good opportunity to short the stock considering the good run majority of the banks have had in the last one year since the 2015 onslaught.
Pennant Breakout DCB Bank LongThe stock has formed a beautiful Pennant and giving breakout now making the new high. One can buy the stock for the target of 170 providing the stop loss just low of today.
