Channel Support. Trend Line Support. EMA Support. Risk Reward Favourable. Other Details Mentioned in Chart. I am not SEBI Registered Financial Advisor.
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.
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.
DCB 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...
The 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.