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Published on 22/07/2019 4:56:08 PM | Source: Choice Broking Pvt Ltd

Buy Dilip Buildcon Ltd For Target Rs.455 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Real Estate Sector #Trading Report #Dilip Buildcon Ltd #Choice Broking

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* On an hourly scale, the stock has been sustaining above its 50 Hourly Exponential Moving Average which shows a positive move in the counter.

* On a daily scale, the stock has bounced back from of its lower band of Symmetrical Triangle formation which shows stock may accelerate in coming trading sessions.

* Moreover, the stock has bounced back after taking a support of around 400 level which is 78.6% retracement level of its previous move from 370.85 level to 511 level which suggests a positive move in the counter.

* A daily momentum indicator RSI reading is at 41.36 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy Dilip Buildcon Ltd @421-418 Stoploss 403 Target 455

 

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