Daily chart of Delta corp is showing break our from narrowing triangle with higher volume than previous days. Stock has also broken its 50 DMA and trading well above 20 DMA. These signs indicate stock may go up in coming days/weeks touching the level of 64 in short to medium term. On other side stock failed to give its daily/weekly close above 100 DMA and still trading below its 200 DMA which indicate stock is still in bearish trend as long as longer term trend is concerned. Traders can buy this stock at CMP (56) or on any fall above 53 for short term target of 64.
Stop loss at 50 recommended.
