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

Report on Dalmia Bharat Ltd.
Report on Dalmia Bharat Ltd.

Stock Recommendations
by Sachin Gupta Last Updated: 2022-08-19T10:44:29+05:30
  •    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. 

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

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. 

Disclaimer

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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