DCM SHRIRAM (1W TF) - Swing Trade Analysis given on 3rd April, 2024
Pattern: REVERSAL AT WEEKLY SUPPORT
- Pullback candle at Weekly Support - Done ✓
- Strong Volume candle at Support - In Progress
- Demand Zone Retest & Consolidation - In Progress
The stock after a good run up and corrected and now again trying to rebound from lower level on weekly chart by taking support on rising trendline, so it has high probability to scale new highs in the days ahead.
📊 Script: DCMSHRIRAM
📊 Sector: Diversified
📊 Industry: Diversified - Mega
Key highlights: 💡⚡
📈 Script is trading near neck line that is support of Double Top pattern as seen into the chart .
📈 Script may take support at 862 level and bounce back from there.
📈 One can go for swing trade for medium to long term.
⏱️ C.M.P 📑💰- 872
⚠️ Important: Always maintain...
Go Long above 965.1 for Targets of 1044.7, 1124.3, and 559.4 with SL 885.5
Reasons to go Long:
1. On a Monthly timeframe the stock gave Trendline breakout. The stock was initially facing resistance from this trendline but now is taking support.
2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see...
📊 Details
DCM Shriram is engaged in the business of manufacturing facilities of Fertiliser, Chloro Vinyl & Cement in Kota (Rajasthan) and of Chlor- Alkali in Bharuch (Gujrat).(Source : Company Web-site )
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
If you found this analysis helpful, I encourage...
DCM Shriram Ltd
business of manufacturing facilities of Fertiliser, Chloro Vinyl & Cement in Kota (Rajasthan) and of Chlor- Alkali in Bharuch .
monthly RSI above 55.
ROCE 19.0 %
ROE 15.1 %
Debt to equity 0.28
Promoter holding 66.5 %
Piotroski score 5.00
if you like my idea follow and like and boost it for more ideas.
NSE: DCMSHRIRAM is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 11% gain on...
In the Weekly Chart of DCMSHRIRAM ,
we can see that; it has multiple rejections at 1100 levels.
Also, it has not given closing above 1100, but Price action is strong for big momentum.
Also, 1200-1250 levels is respected multiple, Once it reaches there it might halt for 2-3 weeks.
Expected momentum is shown in chart.
An interesting co which went up and now pivoted...could be due its next move up..
Long above 996 with a SL below 960.
I'd allocate 50% and then double it up above 1120. (At this point keep SL at cost which would be close to 1060)
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Fresh Breakout
📌 Symbol/Asset: DCM SHRIRAM
🔍 Description: Buy on Dips
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
In the Weekly Chart of DCMSHRIRAM ,
we can see that; it is near breakout.
It might respect one last time and then give breakout.
Expected momentum is shown in chart.
Yet another chemical stock is breaking out from the pattern.
Study:
Pattern - Inverse Head & Shoulder Breakout
Time Frame - Breakout confirmed on weekly chart
Momentum - Big Green weekly candle.
Volume - Hige volume. More than anything in 1 year.
Potential - New All time high.
Journey Time - 3 months to 1 year.
Note: This is not a recommendation. Kindly do...
To be traded for Intraday today
12th June, 2023
DCM SHRIRAM
#intraday #stocks #priceaction
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 12th June, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk...
