Abhishek Mondal
Post the correction in January, Dalmia Bharat slipped into consolidation mode. After three and a half months, the stock has given a breakout from this congestion zone with higher volumes.
The daily indicators such as Relative strength index (RSI) and MACD are in buying mode.
We expect the stock to extend this rally towards our mid to long-term target of Rs 3350 with a stop loss below Rs 2770 on a closing basis.
Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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