DLC Dewan Cement Mid Term Analysis 29 March 2013

March 29, 2013 11:36 am0 commentsViews: 263

DCL29DCL Dewan Cement bullish bias above 4.97

Our Preference: Buy DCL as long as 4.97 is sustained as support with target at 5.47

Alternative Scenario: Downward Penetration of 4.97 will call for 4.92 and 4.98

NOTE: DCL have generated an upward channel since last few weeks and have fulfilled its 38% correction but 50% correction falls on 4.97 which also falls on lower edge of its upward channel so that level is going to be a strong support. Buying can be initiated with a strict stop loss of 4.97 and profit target of 5.47, closing above 5.47 will call for a new era of bullish trend.


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