December 28, 2015
Dewan Housing (NSE Cash)
BUY
` 223
` 230 - 228
` 243
5-10 sessions
227
224
238
243
Bullish
DAILY CHART
Source: Falcon (Time - 10:05 IST)
On 17th December, the stock gave breakout from a ‘Diamond’ pattern with good volumes.
Post breakout session, prices are consolidating in a narrow range and have now formed a ’Flag’
pattern.
The mentioned pattern is a continuation pattern and thus we are expecting continuation of the
upmove in near term.
The ‘RSI’ indicator on daily charts is showing positive momentum.
Looking at the above technical evidences, we advise traders to buy this stock from current level
to a decline up to ` 228 for a target of ` 243 in coming 5 to 10 trading sessions. The stop loss
for this trade set up can be kept at ` 223.
December 28, 2015
Dewan Housing (NSE Cash)
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