TheAspiringTrader

Deepak Nitrite : Excellent Risk Reward Swing Oppurtunity

Long
NSE:DEEPAKNTR   DEEPAK NITRITE
NSE:DEEPAKNTR has broke out of ascending triangle and made a retest. The stock is currently at support level (Previous resistance) and is also taking support from the trendline which is a confluence. There is a good chance the stock might reverse from here and test all time high. Conservative traders can wait for a green candle formation at this level which adds another confluence of double bottom . The stock is consolidating for nearly a month and has good chances to rally from here.
This is just my view ,please follow your trade plan and risk management before initiating any trade.

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