DCM Shriram ltd on a daily chart stock price is
making higher high pattern, also its trading above 20 DMA, indicate stock is
well placed above the support level. On a weekly chart stock price at Rs. 259.50
has given the breakout of cup and pattern at Rs. 244, indicate stock price can
rally towards Rs. 320 level most likely. Momentum oscillator MACD heading north
to give positive crossover, which add more bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs.259 for the target of Rs. 320/380 levels, with Rs 244 stop
loss on closing basis.
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