CHART IDEA- DELTA CORP
After a long downtrend, Delta Corp has given a sharp breakout on the weekly chart and looks highly bullish. After lockdown, the business of the company starts and we are expecting a good recovery in near future. We have seen a daily close above its major resistance with strong volume in the last trading session.
The stock has major resistance at 125-120 and it has closed above the neckline. Traders can enter on dips around 123-120 levels. We will expect a sharp upside move till 142 and then to 155 levels in days to come. Momentum indicator RSI and MACD supports our bullish view in this stock.
Major support around 100, break and close below 100 will negate our bullish view in this stock.
Buy Delta Corp around 123-120 for the upside target of 142 and 155 levels in days to come. Put Stop loss below 100 on a closing basis.
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