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DCB BANK:- BUY SETUPDCB Bank retested the support zone third time and held it.
If support breaks then consider my setup bust.
Levels mentioned on chart.
Given targets seems achievable.
Plan your trade accordingly.
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk.
"Trade what you see, Not what You Think"
Happy Trading.
DCB BANKDCB Bank
First pattern of Bearish shark completed nicely and now a Bullish Gartley seems to be in the works.
Rechecking the chart shows following observations
SORRY FOR THE TOO MANY CRISSCROSSING OF LINES AND PATTERNS ETC...
1. A bullish Gartley seems to be coming up. Point D looks to be a good reversal point.Also co-inciding roughly with a Fibo level retracement.
2. This will be provided it breaks the trendline support at trendline marked in green; which is also part of a wedge and if it does breakdown then it will be a WEDGE BREAKDOWN...
3. Past few days session price has taken resistance at 50 EMA also.
And mostly if XB (also the green trendline) is broken then mostly will go onto hit PRZ.
DCB Bank - LongDCB Bank has been consolidating and has formed a Cup and Handle pattern on daily charts. The stock has also closed above its 200 EMA at 179.4. The stock seems to have pulled back from the 200 EMA and is about the break out of the Cup and Handle pattern.
One can go long on this counter above 182 with Target of 187/191/197, keeping Stop loss below 174 (closing basis).
Future Lot size: 4500.
Risk/Reward Ratio: 3.