DCL SHORT-SELL/EXIT CALLDCL is trending in an Upward Wedge since Dec 2023. Upward Wedges often result in downward moves; recent variation in Volume Gradient and Price Action suggest a downward move to the bottom of the wedge and to the underlying Major Support.
🚨 TECHNICAL SHORT-SELL/EXIT CALL – DCL 🚨
🎯 SHORT-SELL/EXIT ZONE: Rs. 10.3-10.11
📈 TP1 : Rs. 9.2
📈 TP2 : Rs. 7.8
🛑 STOP LOSS: ABOVE Rs.11 (Daily Close)
NOTE – Prices are of ready market
📊 RISK-REWARD: High Conviction | 1:3.3
Caution: Please enter/exit in 3 parts in give range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
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DCL trade ideas
DCL - CUP FORMATION TG : 10.00 - 11.40
DCL is currently trading in a cup pattern, with a post-breakout retest of the neckline at the 8.38 level, following a 36.00% rally from a low of 8.00. DCL now shows a homing pigeon bullish reversal formation with medium reliability. It is likely to continue its momentum toward the previous high of May 2024 at 11.40, followed by 12.80. The momentum indicators are in oversold territory. Accumulate with a defined risk below the 8.00 level.
Targets: 10.00 - 11.40 - 12.80