Dredging Corp following the resistance line nearing breakout Dredging Corp has been on downtrend since quite some time and with that it has been showing respect on the resistance line.
With continuous move near the resistance levels there are chances on a move it would break the resistance line and move out of that resistance range .
If it crosses we can see some good move considering volumes are supporting it.
Levels to watch are 930 and if it crosses it decisively then can go on and reach the levels of previous resistances levels of 998-1064.
No recommendations, just my view based on chart pattern.
DREDGECORP
Dredging Corp nearing support levelsDredging Corp nearing support levels which has been only moving in the down trend since few weeks.
Can see the support levels of around 935 which is around 35% of the fall from high.
Another support from the downward channel is around the levels of 40% of around 890 .
Expecting it to shoot up a bit after it reaches the support levels. This does not confirm the real trend though. Just need to wait for chart pattern on the daily time frames to confirm the pattern with doji kind of pattern for it to shoot up around the levels of 1100. The stock has given abrupt returns in the past so not enough conviction to fall more after those levels.
No recommendations, just my view based on chart pattern.
Dredging Corporation Of India Ltd - Breakout Setup, Move is ON..#DREDGECORP trading above Resistance of 1176
Next Resistance is at 2118
Support is at 884
Here are previous charts:
Chart is 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.
Dredging Corporation Of India Ltd - Long Setup, Move is ON...#DREDGECORP trading above Resistance of 749
Next Resistance is at 1176
Support is at 616
Here is previous chart:
Chart is 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.
DREDGECORP | Swing Trade📊 DETAILS
Sector: Ports
Mkt Cap: 1,386 cr
Dredging Corporation of India Limited (DCI) is engaged in providing integrated dredging services to ports, Indian Navy and other maritime organizations in India.
TTM PE : 43.88 (Average PE)
Sector PE : 78.61
Beta : 1.52
📚 INSIGHTS
Strong Performer
Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation
13.53% away from 52 week high
Underperformer - Dredging Corporation India down by -5.34% v/s NIFTY 50 down by -0.29% in last 1 month
📈 FINANCIALS
Piotroski Score of 7/9 indicates Strong Financials
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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DREDGING CORP breakoutPossible bottom structure in the stock and also inverted head and shoulders pattern , breakout incoming above 450-470 levels , need clean breakout and must sustain above it , need weekly or monthly closing above levels and also a good retest for entry , potential targets of 615/750 levels if goes right , will keep updated of entry and exits in the stock🙏
Dredging Corporation of India LimitedDREDGECORP:- Breakout after 4 years going up with lower support
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
DREDGECORP - Ichimoku Bullish Breakout Stock Name - Dredging Corporation Of India Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 357
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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Dredging Corporation of India Ltd - 31.12.2021Dredging Corporation of India Ltd - 31.12.2021
The stock is trading @ 316 levels
There is a MACD Bullish Divergence in weekly chart
the prices are below ema
let the prices go above 321
stochastic oversold in monthly chart
the prices are at support
watch out for the price action
#DREDGECORP CMP428.25 Target 480 #ModiSpeech #PMModi #ADANIGROUPWeekly Chart
#DREDGECORP
NSE: DREDGECORP
Short Term Quick Profit
CMP 428.25
Target: 480
SL : 402
Timeframe < 45 Days
ITS A BULL MARKET RALLY. Bullish on whole INDIA!
Corrections followed by another high!
Factors:
Inverted Head & Shoulder Pattern Forming
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia