|Buy Range||231 – 235|
|Target||248 – 250|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||4 – 5%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|238.2||BUY||231 – 235||248 – 250||220||15 – 20 Trading Sessions||4 – 5%|
# CMP on July 11, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 243.
^ The returns are calculated based on CMP#
DCB Bank is an Indian commercial bank operates through Treasury operations, Retail Banking, Wholesale banking and other segments. The company offers different products such as Current accounts, savings accounts, fixed deposits, portfolio investment schemes, small credit, MSME credit, car and home finance etc. As of March 2019, the bank has operated through 333 branches and 504 ATMs across India.
|Sectoral Index||Nifty Bank|
TECHNICAL OBSERVATIONS (WEEKLY)
- Attached weekly timeframe chart of DCB Bank Ltd is signalling that the stock price was moving in a larger consolidation pattern in the last few years and is currently making an attempt to reach the upper boundary of the pattern.
TECHNICAL OBSERVATIONS (DAILY)
- The stock price has taken support above the trendline, which also acted as strong support in recent past too.
- The closing is above 5 EMA and 10 EMA crossover on daily charts.