Buy DCB BANK
The recommendation is also valid for future trading sessions.
Entry only in between the RECOMMENDED BUY RANGE.
|Buy Range||120 – 125|
|Target||143 – 150|
|Duration||12 – 15 Trading Days|
|Potential Returns^||17 – 22%|
|CP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Returns^|
|143.5||BUY||120 – 125||143 – 150||115||12 – 15 Trading Days||17 – 22%|
# CP – closing price on Mar 13, 2020
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 143.
^ Potential returns are calculated based on the median of buy range.
COMPANY OVERVIEW - DCB BANK
DCB Bank (NSE: DCBBANK) is an Indian commercial bank operates through Treasury operations, Retail Banking, Wholesale banking and other segments. The company also 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. In Q3FY20 DCB Bank has reported Net Profit of Rs.96.70 crore as against a net profit of Rs.86.10 crore in the corresponding period last year, profit increased by 12.31%.
|Sectoral Index||Nifty Bank|
DCB BANK TECHNICAL ANALYSIS (WEEKLY)
- DCB Bank has been trading in a positive trend since 2009. There is a steady support baseline which is moving upwards along with price rise.
- As long as the price is just above the Ultimate Support, we can go long with this stock. This way, the risk will be limited.
DCB BANK TECHNICAL ANALYSIS (DAILY)
- The stock has formed few bullish candlesticks near the support. When the broad sentiment is extremely negative, appearance like such candlesticks since the past few days showing confidence in our view.
- A daily momentum indicator Stochastic is showing a positive crossover above oversold level, which points out for a positive breath in the stock.
- Volumes have gone up along with price rise.
DCB BANK TECHNICAL ANALYSIS (price vs OBV)
- DCB Bank continues to make lower troughs and OBV fails to make lower troughs. This is called a positive divergence.
(OBV measures buying and selling pressure as a cumulative indicator that adds volume on up-days and subtracts volume on down-days.)
- OBV shows a divergence from price movement, so we expect a price reversal is imminent.
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⭐️ 𝗨𝗹𝘁𝗿𝗮 𝗘𝗾𝘂𝗶𝘁𝘆 #𝗔𝗱𝘃𝗶𝗰𝗲 #𝟭𝟮𝟮: █████#Share price near ultimate support. Consecutive #bullish #candlesticks in the last five #trading sessions. #RiskReward ratio 1:3.— Goodluck Capital (@CapitalGoodluck) March 16, 2020
● Original post: https://t.co/g0MaqYCgww#GoodluckCapitalUltra #nse #investing #stock