DCB Bank is getting prepared for making a good triangle breakout....
One should get ready to sell DCB Bank below 197
with the targets of 185/180/170 and SL 195
Note: Do your own study before making any position...
Please Like, Follow and Comment your views below...
Last year has been very bullish for this bank. And last month was a boom boom with a breakout in the lat week. First target can be set at closest high of 168 and second target? let it just go and we shall see it booming.(unless it makes a double-top and reflects)
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...
Last year has been very bullish for this bank. And last month was a boom boom with a breakout in the lat week. First target can be set at closest high of 168 and second target? let it just go and we shall see it booming.(unless it makes a double-top and reflects)
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.
It appears the Exhaustion Gap is visible in Weekly candle , but still reaching to the highest of high 169 may be possible on Monday after that high you can look for reversal indication for short selling till the climax ends
You can sell till 150
Cheers
BSE:DCBBANK after a strong upmove is at a good resistance level .
Will it be stopped or it will break?
As for me :
Might be halted and go down now.
But,
Look out whenever it breaks it convincingly and then go long. Better yet when it retests for support.
Plan your trades !
Cheers !!
DCBBANK AT VERY IMPORTANT LEVEL IF POSTED BAD RESULT THEN STOCK WILL DOWN 3-5% SIMPLY.. AND STOCK RESULT NOT GOOD SEEN ON CHART BUT STOCK HAVE GOOD SUPPORT AT 120 ABOVE BULLISH BELOW 120.5 STOCK BEARISH.
