DCW Limited

• 01 January, 2024 Ruchit Thakur

DCW Limited

DCW Limited is prepared to unleash a massive breakout

DCW limited is offering a great opportunity to enter at the current market price for a big target. The stock is poised to rise to 93 and 95 levels. Kindly examine the Weekly chart of DCW Limited. The stock appears to be a good investment for a medium to long term perspective. The potential upside is present for 93 and 95 levels, respectively.

• DCW Limited is offering a very nice opportunity to buy at the current market price.
• DCW Limited is in the process of making an ascending triangle pattern on the weekly chart.
• The risk to reward ratio is ideal for entering long at the current market price.

Please review the attached chart of DCW Limited for your reference. DCW Limited's weekly chart is showing an upward trend and it is currently forming an ascending triangle pattern. The breakout will occur above the 63 zone towards 93-95 since the ascending triangle range is between 33 and 63.

Ascending Triangle : An ascending triangle is a breakout pattern that forms when the price breaches the upper horizontal resistance area with rising volume. It is a bullish formation. The upper area must be horizontal, indicating nearly identical highs, which form a resistance zone.

Please take a look at the upward trendline which has been sloping upwards since 2022 and is providing excellent support. Stock is respecting the trendline so far and going higher. Stop loss will be around 40-42 levels, so the risk to reward ratio is perfect for this opportunity.

Investors or traders can enter this stock at the current market price with a stop loss around 40-42 levels to achieve the ascending triangle target of 93-95 zones.

Take a look at the support and resistance levels of DCW LImited on the weekly chart. All levels are in spot chart : 

Company Profile : DCW Ltd is a diversified manufacturer of basic chemicals, such as: Caustic Soda,Liquid Chlorine and Chlorine based products. The company pioneered the manufacture of Soda Ash in India. DCW was the first, and is currently the only Indian producer to handle and store imported VCM, a volatile gas..The company also in the business activities of PVC, Caustic, Soda Ash.