DBSTOCKBROStock name = DB Stock Brokers Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
DBSTOCKBRO trade ideas
Long term breakout in DBSTOCKBRO (NSE)NSE:DBSTOCKBRO has broken out this week from a long term zone. The move has occurred after a nice rounding bottom that took nearly 8 years. Remember that the longer the pattern formation, larger the move.
Now if we go by classic TA, rounding bottom low from breakout zone is a 550% move (38 points in terms of number). If we go by % then there is a huge upside potential in the stock. Even if we go by just the absolute move, it would still be a healthy 70%. Break of this week's high should be a good entry point if you're an aggressive trader.
On the downside, if there is a re-test then it might go back to 45 zone before it continues on the upside. If you're a conservative trader then you can wait for the pullback (though it may never happen).
Worst case, the breakout might fail completely hence it would be prudent to trail this using a tight average in a daily timeframe, e.g. 9DEMA/10DMA.
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Capital to be deployed- 20k
Investing Price -41-43
Breakout Price -41
Stoploss-27
Targets-64-149
RT for max reach
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DBSTOCK looks bullish DBSTOCK looks bullish on the monthly time frame. It has been forming a Cup and handle pattern and is ready to break its neckline. RSI on the monthly time frame has already crossed 60 and is about to strike 60 on the weekly and daily time frame. Volume is increasing gradually. Even if it hits our 2nd target, we can achieve over 5 risk-to-reward ratio. One can hold the position for a long with a moving stop loss order from higher low to higher low.