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    Stock Radar: 20% fall from highs! Dalmia Bharat breaks from Falling channel; time to buy?

    Synopsis

    Dalmia Bharat has seen a breakout from Falling channel pattern and a continuation of this can fuel momentum driving the stock towards 2,000-2,100 levels in the short- to medium-term. After hitting a 52-week high on December 14, 2023, the stock lost its steam and witnessed a steep fall, slipping below crucial moving averages.

    Dalmia Bharat, a part of the cement industry, has fallen over 20% from its recent high but the recent momentum helped the stock break out from the falling channel.The breakout, if sustained, can add further momentum which could take the stock towards 2,000-2,100 levels in the short- to medium-term, suggested experts.The cement stock hit a 52-week high of Rs 2,428 on December 14, 2023, but failed to hold the momentum. It witnessed a steep fall,
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    The Economic Times