Finally some time back DCB bank gave a breakout at 214 now trading at 239 also its life time high.
The business has been growing at 15-20% per year.
The 200 DMA of the stock was at 146 when it took the support.
In my opinion the stock should move another 40-45Rs from here before facing some correction.
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Long DCB Bank
Logic- as we have seen good consolidation in the stock even after a sharp fall in nifty and bank nifty, so once market starts to recover DCB should lead the rally.
Stock is trading above breakout levels of 220.
Its a buy
SL 214, which is todays low.
Please maintain Stop loss, as market will be volatile and any bad news can...