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DCW Ltd.

The stock has been trading in a bullish trend with Higher High & Higher Low formation for the last couple of days. In the prior trade, the stock has crossed the resistance of 33.40 and confirmed the breakout on 23rd Apr'2021 after that we witnessed a decent move in the stock till 44.90 levels, made high in July'2021 with 30% gains from the breakout levels.

Thereafter, the stock has retreated from the July month high, i.e., 44.90, and retested the prior breakout levels. The stock regained in Aug’21 from the low of 31.85 levels and showed a one- way rally to reach the new milestone. Finally, the stock has breached the prior swing highs resistance and given a Horizontal Line Breakout.

On a weekly chart, the stock has also confirmed the Rounding Bottom breakout and traded above it, which indicates bullish strength and buying convection in the counter.

In addition, the stock has moved above Bollinger Band &lchimoku Cloud with a positive crossover, which shows the upside movementin the counter.

Moreover, on the daily chart the volume activities have been rising gradually in the stock, whichis supporting thebuying trend,

A momentum indicator RSI and MACD is also showing strength with positive crossed on a weekly timeframe. Hence, we are expecting an upside move in DCW for the short to medium term. One can initiate a buying position for the target of 55 to 60 while on the downside, the support would be around 38/40 levels.

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