The daily chart of Deepak Nitrite Ltd
The daily chart of Deepak Nitrite Ltd. indicates a potential bullish breakout from a falling wedge pattern, with the stock currently trading near ₹2,709. Key support is around ₹2,550, and resistance lies at ₹2,800–₹2,900. A confirmed close above ₹2,750 with strong volume offers a good entry opportunity, targeting ₹2,900–₹3,000 initially and ₹3,200 as an extended target. To manage risk, a stop-loss should be set at ₹2,550, yielding a favorable risk-to-reward ratio of ~1:3.3.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.