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Going Long on Current with Stop on previous Low , Expecting it to make a short term target of 309+
in weekly, price bounced from horizontal support zone and horizontal channel support.
In daily, regular bullish divergence seen here.
sl - 283, 1st tgt - 350, 2nd tgt - 415.
As after long series of downtrend on daily chart DB Corp closed above at 298 kicking the downtrend series candle that closed at 294 to change its direction for short term period in uptrend, so one can enter it for short term buying maintaining strict stop loss of 289, can trail stop loss if 317 price
Stock is at Support Zone.
Last Year Falling Trend Line Break Out.
Trend Line Support.
Above 78.6% Fibbo.
Near Last Year Low.
Risk Reward Favourable.
Other Details Mentioned In Chart.
Please Consult Your Financial Advisor Before Taking Any Decission.
I am not SEBI Registered Financial Advisor.
Stock has had a decent run in the past couple of months but now faces multiple resistance levels. Recent run has not been on outstanding volumes hence difficult to carry forward momentum and break up upper end.
Good possibility of it inching 4-5% higher and then seeing a decline.
Looking to Go long on CMP for Target ,
@CNBC_Awaaz NavRatna - Diwali to Diwali Stock