Medium Term Trade(2-3 Months): Dredging Corp is on the verge of breakout from a cup and handle pattern.
Buy: Dredging Corp
CMP: 429
Target 1: 530
Target 2: 550
Stop Loss: 400
Weekly Chart
#DREDGECORP
NSE: DREDGECORP
Short Term Quick Profit
CMP 428.25
Target: 480
SL : 402
Timeframe < 45 Days
ITS A BULL MARKET RALLY. Bullish on whole INDIA!
Corrections followed by another high!
Factors:
Inverted Head & Shoulder Pattern Forming
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with...
Add this to your watchlist. Wait for the bullish candle, Today it has come down on less volume which shows that there is no much selling pressure. Expecting the stock to pick up soon.
Dredging corp, kind of monopoly business in PSU space. Disinvestment candidate, may be.
Levels as shown on chart. Can really fly above 340.
No recommendation, Do your own research.
NSE:DREDGECORP Go long on Dredging Corporation for a target of 500 in 30 trading days with a stop loss of 365. Price breakout at pennant -flag patter with increasing volume, RSI moving up and MACD line crossing MACD signal line. All positive triggers.
Go long if PDH is broken at PDH with SL at PDL ,
Short at PDL if PDL is broken, with SL at PDH
PDH - 473.7
PDL - 453.5
If it gaps, watch the firs 5 min candle, then follow ORB
Dredging Corp. of India Ltd. engages in the business of dredging. Its services include capital dredging, maintenance dredging, beach nourishment, land reclamation, shallow water dredging, project consultancy, and marine construction. The company was founded on March 29, 1976 and is headquartered in Visakhapatnam, India.
NSE
![DREDGECORP: [Intraday] Inside bar DREDGWCORP](https://s3.tradingview.com/d/dWoI10zr_mid.png "[Intraday] Inside bar DREDGWCORP")
