DCAL is undervalued compared to peers (LAURUS LABS, NEULAND LABS etc) in Specialty Chemical space. While it is a turnaround story in the making at a fundamental level, it is interesting to note how it is following the Fib retracement patterns.
Pattern in formation, above 170 it can do wonders and give immediate 30% returns in no time.
Keep watch above 160 on weekly closing basis and expect target of 200+
Long term target 300+
Time Frame 1-1.5 Years
Stop loss:133
As per the chart,
1. MACD is giving bullish signal on a Daily timeframe.
2. Trend line is being respected nicely!
3. If it breaks the current target, the next target should be close to 300.
The stock broke the downtrend convincingly with a consolidation.
After a rise , it retraced 61.8 which is again a healthy sign for a stock.
I may be wrong in calculating the waves but I suspect this is the end of 3 and 4 (pull back) would resume soon.
Stock looks very good for medium term. Accumulate on dips.
Fundamentally the stock is trading at 0.56 times...
Stock: DCAL
Looking Bullish now. It was broken at 23.6 Fibo Level & Good Breakout today with volume.
For New Trade, If Break 104, Expect Further Upside with above marked targets 109,125,150++
Dedicated to: Krushna Narkhede
