Dilip Buildcon

Dilip Buildcon CMP 561- Interesting TechnoValue Setup

Dear Tribe Members,

Today we will be discussing an interesting Techno Value Setup Dilip Buildcon. Dilip Buildcon has broken out of a downward sloping channel.

Chart Follows:

DBL Moved up 50% in just 2 months from Jan 2021- Feb 2021, After Making a top Near 720 odd Levels, Stock started cooling off and gave up 50% of the gains made in the past 2 months. This correction is a healthy correction after a rapid up move. Recently it has broken out of a downward sloping channel, can this breakout prove to be an inflection point? Time will tell. The next Resistance for this stock in Short Term is Around 730 and Medium Term Resistance is placed Around 1000+.
Currently, DBL is on a Strong Footing. This Pattern will be Negated and turn weak if it starts trading below 530.

Earlier Post on DBL- https://www.youtube.com/watch?v=BOZpqiZTf-s

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