DCHL (BUY, CMP Rs173, Target Rs183): On Friday, the stock gave a breakout after consolidating between the levels of Rs172-157 for the last two weeks. The stock has a strong support around its 100- DMA. Friday’s close is above its key resistance levels of Rs172 with higher than average volumes. In fact, the breakout has occurred after a 2-week consolidation, representing a high level bullish congestion, suggesting a potential upside to the levels of Rs183 and above. The daily RSI is already in strong buy mode. The stock has closed above all its key daily moving averages. Keeping in mind the above-mentioned evidences, we recommend high risk traders to buy the stock between the range of Rs172-174 with a stop loss of Rs167 for target of Rs183.
JOIN US!!
Send SMS for "STUDY" on 09825677777