DCB Bank Technical Analysis #68: Buy | Target Rs 248 | Arijit Banerjee

Buy Range231 – 235
Target248 – 250
Duration15 – 20 Trading Sessions
Potential Return^4 – 5%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
238.2BUY231 – 235248 – 25022015 – 20 Trading Sessions4 – 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.

Stock Data
Sectoral IndexNifty Bank
52W High244.65
52W Low139.85
Face Value10
Relative Performance_DCB Bank vs Nifty Bank


  • 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.
DCB Bank Weekly Chart
DCB Bank Weekly Chart


  • 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.
DCB Bank Daily Chart
DCB Bank Daily Chart


Based on our short term trading calls, DCB Bank share price target will be 248 – 250 in the next few days.


1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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