On the verge of Breakout of 3 years levelDeepak Fertilizers is on the verge of breaking above the price level after a gap of about 3 years. The price has been forming a rounding bottom base formation in this period. Typically, breakouts from zones formed over 3+ years are expected to be explosive on the upside.
DEEPAKFERT
Stock Analysis of Deepak FertilizersPrice - 287.50 Dt. - 12.05.2021
The stock still has the capacity of going up 10% from the current level. The stock also witnessed some buying in the last 30 mins of the trading session. Stock may consolidate for 2-3 trading sessions before resuming the up move.
RSI is near overbought zone.