Buy DALBHARAT - Target of Rs.1723 to Rs.1800

Report on Dalmia Bharat Ltd.

Indian Stock Market

by Sachin Gupta Last Updated: Sep 07, 2023 - 05:09 pm 19k Views

On the daily timeframe, the stock has given “Ascending Triangle Pattern Breakout”, which indicates bullish strength for the near term.

Report on Dalmia Bharat Ltd.

Moreover, the stock has been moving above 200-Days “Simple Moving Averages” that supports the bullish trend for the long term.

The Volume has been rising gradually, which suggests the buying interest among the traders.

The price has breached the prior resistance and sustained above upper “Bollinger Band” formation that shows the bullish momentum.

A momentum indicator RSI & Stochastic witnessed positive crossover on the daily chart.

Hence, we are recommending buy in DALBHARAT at CMP 1639 for the upside target of Rs. 1723 &1800.The stop loss for positions should be placed below Rs.1555.

Recommendation	BUY
Buying Level	1639
Stoploss	1555
Target 1	1723
Target 2	1800

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About the Author

Sachin Gupta

Mr. Sachin Gupta is a Senior Research Analyst at 5paisa, based in Mumbai. He has over 10 years of experience in Equity, Commodity research and strategies.

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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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