Dalmia Bharat (NSE: DALBHARAT) - Potential Breakout After 5-Mont
After consolidating for nearly five months within the 1,700–1,950 range, Dalmia Bharat is now on the verge of a significant breakout. Here's a technical outlook:
Resistance Level: The stock has faced strong resistance around ₹1,950, which coincides with the 200-day moving average. This area could be the key breakout zone.
First Target: A successful breakout above this level could push the stock towards ₹2,054, marking the next price target.
Indicators:
Volume: Recent volume spikes show an increase in buying interest as the price approaches the resistance zone.
RSI (14): The RSI is approaching the 60+ range, indicating strength but not yet overbought territory, which could support further upward movement.
This is a stock to watch closely as it attempts to break out of this long consolidation phase. A close above ₹1,950 on high volume might confirm the breakout, presenting a buying opportunity for swing traders. After consolidating for nearly five months within the 1,700–1,950 range, Dalmia Bharat is now on the verge of a significant breakout.
Resistance Level: The stock has faced strong resistance around ₹1,950, which coincides with the 200-day moving average. This area could be the key breakout zone.
First Target: A successful breakout above this level could push the stock towards ₹2,054, marking the next price target.
Indicators:
Volume: Recent volume spikes show an increase in buying interest as the price approaches the resistance zone.
RSI (14): The RSI is approaching the 60+ range, indicating strength but not yet overbought territory, which could support further upward movement.
This is a stock to watch closely as it attempts to break out of this long consolidation phase. A close above ₹1,950 on high volume might confirm the breakout, presenting a buying opportunity for swing traders. After consolidating for nearly five months within the 1,700–1,950 range, Dalmia Bharat is now on the verge of a significant breakout.
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