DCL Dewan Cement Limited Analysis 22 June 2016

Rebound Insight

Our Pivot: 11.51

Our Preference: Buy above 13.84 and average it out till 13 with strict stop loss of 11.51 and profit target at 16.85 and 17.25.

Alternate Scenario: Downward penetration of 11.51 will call for 9.96.

NOTE: DCL is caged in a triangle and right now its getting support from its 50% weekly correction along with a horizontal supportive region. Its expected that it will start a bounce back from its 50%-61.8% correction levels.

Recommendations:

Buy above 13.84 and average it out till 13 with target at 17.25.

Chart with Supports and Resistances: