rahuljaiswal1580
Long

Breakout trade - W pattern

NSE:DEEPAKFERT   DEEPAK FERTILISERS
The stock has formed a classical W pattern and has almost given a good breakout with high volumes and RSI confirming the charge of bulls.
Also it has been getting a good support of trendline. If it crosses and sustain its key level of 180-182, we may see the momentum getting continued for more upside rally in near future. We might see a short retracement due to profit booking, so buy on dip would be a good strategy in that case. So wait for the right price action.
Good support: 168-170

Similar view for Deepak Nitrite

Disclaimer: Take this view for educational purpose. Trade on your own risk.
Happy trading. Happy Investing!

Comments

Bro. That's not a W pattern 😂. The W raises from EQUAL TWO LOWS.
Reply
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