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Sell Deccan Chronicle Future below Rs 55: IIFL
According to IIFL, traders can sell Deccan Chronicle Future below Rs 55 with stop loss of Rs 56.5 for target of Rs 52, in its October 3, 2011 research report.
According to IIFL, traders can sell Deccan Chronicle Future below Rs 55 with stop loss of Rs 56.5 for target of Rs 52, in its October 3, 2011 research report.
"Deccan Chronicle Holdings (DCHL) has been moving sideways since last couple of weeks; however the peaks are indicating tower tops formation resembling to a distribution phase. The daily RSI has given a negative crossover from overbought position and move below the support of Rs 55 would aggravate selling pressure in the counter. On weekly chart too a black candle has engulfed the white candle which exhibits bearishness. We recommend going short on DCHL OCT Fut below Rs 55 with stop loss of Rs 56.5 for target of Rs 52," says IIFL research report.
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