DCBBANK trade ideas
DCB BANK CHANNEL LINEONCE BULLISH CROSSOVER OCCURS IN STOCHASTICS BULLISH DIVERGENCE WILL BE CONFIRMED AND UPPER CHANNEL LINE IS TARGET A LITTLE LESS THAN THAT AS SHOWN WITH ARROW MAKE SURE LOWER TRENDLINE NOT BROKEN ON CLOSING BASIS IN HOURLY CANDLE
DCB BANK REVIEWDCB IS RANGE BOUND SO IT MUST GO UP AND TOUCH UPPER LINE STOP LOSS IS 168.10
NOTE: TRADE AT YOUR OWN RISK
DCB Bank - Investment View.Moving In Upward Channel.
Approaching Support Zone of Channel.
Risk Reward Favourable.
Investment View For Educational Purpose Only.
Other Details Mentioned In Chart.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI registered Financial Advisor.
Happy Diwali.
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.
DCBBANK, bullish above 200.5017 july 2019 is result date for dccbabank
And that day it closed at 199.95
After result day it was very range bound and made 3 doji's in this range
With good volumes
So I expect a upmove above 200
And add as a buffer i added 50p
so the level comes out to be 200.50
and main problem is Bank Nifty and
if Bank Nifty declines further,
it will drag DCB Bank more lower so keep tight stop loss at 198
DCB BANKBEARISH SHARK and CYPHER pattern formations.
Fibo levels plotted with Support and Resistances ... Point D of Cypher is coinciding with SR and Fibo level indicating more prominence.
If price crosses 200.5 then upside move highly possible till point D..
Could break downIf I understand price correctly this could be continuation of down fall anything below 186 looks extremely week and shorts can be triggered for targets of 172 or down. Buying can be only initiated once price close above 197 comfortably on 15 mins.
LOOKING Good for 205/214Perfectly setup for a up-move. We can enter above or between 197-198. 205/214 are targets.
DCB Bank Long TermWill touch 320 and retrace to 200 for further highs if CCI(M)34 support will not break
