PL Technical Research: Buy DCB BANK - Medium Term Tech Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd

BUY DCB BANK CMP: 124 TRGT: 142 SL: 116 - MEDIUM TERM TECH PICK - The stock has witnessed a decent pullback from the significant 50EMA and 200 period MA of around 116 levels and has improved the bias to anticipate for further rise in the coming days. The RSI has also indicated a trend reversal showing strength to signal a buy and currently is well placed with much upside potential visible to carry on the momentum still further ahead. We suggest buying and accumulating the stock for an upside target of 142 while keeping the stop loss at 116.