DCB Bank stock may offer mid-term investors up to 15% returns on the favourable prospects and upside potential, Prabhudas Lilladher said in a research note citing technical indicators. “DCB Bank stock exhibits promising upward potential on the Relative Strength Index (RSI), indicating favorable prospects and attractiveness of investing opportunity,” said the note. The brokerage report recommended investors to seize the opportunity and buy the DCB Bank shares at a target price of Rs 142, nearly 15% higher than the current market price of Rs 123.50.
Reversal in trend; momentum may continue
The report additionally highlights that the Relative Strength Index (RSI) has exhibited a reversal in trend, indicating strength and signaling a favorable buying opportunity. Furthermore, the RSI currently shows significant upside potential, suggesting the momentum could continue to rise in the future. However, the report advises investors to exercise caution and set a stop loss at Rs 116 to manage potential risks.
DCB Bank technical stock call: Chart showing 200 MA, 50 EMA
BY Prabhudas Lilladher
DCB Bank stock performance
DCB Bank market cap stands at Rs 3,890 crore, the P/E ratio is 8.45, and the dividend yield is 1.00%. The last 5-day high was noted at Rs 126.30, whereas the last 5-day low stood at Rs 122.10. The prices for the 52-week high were reported at Rs 141.20, whereas the 52-week low fell to Rs 74.75. DCB Bank share price has jumped 10% in the last five trading days, from Rs 114.9. It has jumped 18% in the last three months, and has surged a whopping 67% in the last one year.