Short term price targe is 480 in about 2-3 days Trend is up....
DBL chart is nicely following supports and resistance it seems. Support at 422, short term target is 544
Unless it breaks 1/1 descending line, it will continue to follow the descending line. We will see in a week if bullishness returns
Even though DBL has closed in red, but it has managed to close above 1/1 ascending Gann fan and is expected to turn bullish in short term. Next resistance will be around 1200.
2 main reasons to go bullish on Dilip Buidcon: 1.Buyers zone : Big Green Candles 2.Inside Bar break out - watch out above 853 Plan : Buy if the price cross 853 and it will go all the way to 1. 915 - Previous structure 2.1014 - 50% fib then to 618 - 1061
In this bearish move the stock may see a level of 600 (596)
Dilip Buildcon - Completed 5 waves up, now correcting in wave A. Took support at 200DMA. If it breaks 840, there is no near support until 600. Breaking 840 will lead to a steep fall.
If it closes below 1000, a level of 936 can be seen
The short term support of Gann Fan (4 months duration) should hold.
1600 levels easily visible with a year.once crossed the channel upwards no resistance or least resistance.
DBL CMP 1114 Target 1280 plus Stop 960. Daily Chart 1) Stock has bounced back convincingly after a long period of cup based consolidation. 2) Stock has also bounced back from 30 day ema support. 3) Relative Strength bounces back from support. Strategy Aggressive traders can buy at CMP. Conservative traders can buy at possible retracements around 1170 to 1115...