Buy DALBHARAT - Target of Rs.1723 to Rs.1800

•    On the daily timeframe, the stock has given “Ascending Triangle Pattern Breakout”, which indicates bullish strength for the near term.

                                                                 Report on Dalmia Bharat Ltd. 

• Moreover, the stock has been moving above 200-Days “Simple Moving Averages” that supports the bullish trend for the long term. 

• The Volume has been rising gradually, which suggests the buying interest among the traders. 

• The price has breached the prior resistance and sustained above upper “Bollinger Band” formation that shows the bullish momentum. 

• A momentum indicator RSI & Stochastic witnessed positive crossover on the daily chart. 

• Hence, we are recommending buy in DALBHARAT at CMP 1639 for the upside target of Rs. 1723 &1800.The stop loss for positions should be placed below Rs.1555.