DILIP BUILDCON LTD NSE:​DBL

Scalping today positive news: got project for construction of metro in Madhya Pradesh target around 61.8 fibonacci levels for today

DBL Long Levels mentioned in chart

Entered on 2 Aug 18 on 847.30 with a stop loss at 771.10 TSL 0.00% 0.00% update on 16 Aug 18 from 771.10 to 815.15 Current Trailing Stop loss = 815.15 In case of hitting stop loss there will be loss of 32.15 points

Entered on 31 July 18 on 800.15 with a stop loss at 750 TSL 0.00% 0.00% update on 6 Aug 18 from 750 to 771.10 TSL 0.00% 0.00% update on 16 Aug 18 from 771.10 to 820.90 Current Trailing Stop loss = 820.90 In case of hitting stop loss there will be confirmed profit of 820.90 - 800.15 = 20.75 points

Entered on 31 July 18 on 800.15 with a stop loss at 749.45 TSL 0.00% update on 1 Aug 18 from 749.45 to 770.85 TSL 0.00% update on 9 Aug 18 from 770.85 to 815.15 Current Trailing Stop loss = 815.15 In case of hitting stop loss there will be confirmed profit of 815.15 - 800.15 = 15 points

Support at 820.70. Effect of double bottom is not yet visible.

DBL is forming bearish bat pattern, go long above 900 only.

Minor resistance at 922.80 tomorrow

levels mentioned on chart..

A beautiful W formed between support and resistance. It is likely to break out of resistance at 815 today. If it manages to hold 815 for couple of days, 1225 can be seen in medium term.

It has formed perfect Double Bottom (W) after a decent fall. Long above: 840 CBSL: 750 Target: 1065

heading south

It may not go down to a level of 765 in short term and may go up from here. Target (incremental of) 1360 if bullishness continues.

As per disucssion

Upmove imminent. The stock however may try to touch a level of 782 before upmove.

Looks like Dilip buildcon news has exhausted the stock to it's strong support level, let's see whether it takes a U turn or not :)

1000 level support did not hold but it is expected that 1/1 support which falls at 885 should hold tomorrow on closing basis

Retesting BO levels of 1060-1050