DCM Shriram slowly forming a cup and handle pattern. DCM Shriram Ltd. is a diversified company with business in Agri, chemicals, plastics, cement, textiles and energy services. DCM Shriram Ltd CMP is 960.15.
The Negative aspects of the company are Declining annual net profit, MFs are decreasing stake. The positive aspects of the company are No debt, zero promoter pledge, FIIs are increasing stake, Improving cash from operations annual.
Entry can be taken after closing above 969. Targets in the stock will be 1001 and 1045. The long-term target in the stock will be 1094 and 1119. Stop loss in the stock should be maintained at Closing below 923.
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