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DCM Shriram share price has made a bullish breakout on Thursday. The stock had surged about 7 per cent on Thursday. This rise has taken the share price well above the key resistance level of ₹1,035. The region around ₹1,030 will now act as a very good support. Intermediate dips are likely to be limited to this support level. Moving average cross overs on the daily chart also strengthens the bullish case. DCM Shriram share price can rise to ₹1,150 in the coming weeks.
Traders can go long now at ₹1,057. Accumulate on dips at ₹1,040. Keep the stop-loss at ₹995. Trail the stop-loss up to ₹1,075 as soon as the stock moves up to ₹1,095. Move the stop-loss further up to ₹1,105 when the price touches ₹1,125. Exit the long positions at ₹1,145.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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