Deepaknitrite
Mangalore Chem: Can it be the next Deepak NitriteThe stock has had a long build up through the entire month of June since it dropped down from its all time high of 101 which was hit on 14th may and now its trading at 82. It has consolidated for the entire month of June and its a dormant volcano which can burst to the upside any time. Let me show you an interesting comparison with deepak nitrite. Deepak nitrite high o 1988 on 6th May and a week later mangalore chem hits a high on 14th. Mangalore chem is forming an exact same pattern like deepak nitrite and the good news is that Deepak nitrite again hit a high on 8th May so you know what I am talking about. You can enter at CMP keeping a target of 100 and a stop loss of 70.
Message me or comment for faster updates. I am not a financial advisor and this is for educational purposes only.
Deepak Nitrite - Ready for next impulsive moveKey Highlights:
1. Bullish market structure
2. Volume expansion
3. Coming out of consolidation
4. Trendline breakout
5. Ripe for next impulsive move
6. Buy only on pullback b/w 1825-1850
7. Target: 1987, 2110, 2176
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Deepak Nitrite BreakoutDeepak nitrite recently breakout through the Resistance zone. You can clearly see in the chart. I have marked two zones Resistance zone and Support zone. Since one month stock was trading in between these two zone.
CMP : 1882.35
Positive Points:
Today it breakout with a great amount of volume. Todays volume was above the moving average of volume of 20 days.
Also the closing price is above the resistance zone.
MACD is above zero line and histogram is showing bullish sign. MACD crossover is done.
RSI is above 60. This indicates that the stock is in bullish trend now. If it continues this rally further we can have a very good target in short term which is near the 52 week high price.
Target: 1988
Duration:
Short term
In worst situation stock may drop down and will continue its consolidation phase.
Disclaimer: I am not sebi registered. Please do your own analysis before taking any new position. I am not responsible for your profit or loss.
Deepak Nitrate - Bullish breakoutDeepak Nitrate is so bullish and may breakout from its channel patter, so give an entry with appropriate Stop loss only after the breakout
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
How to make big profits in Deepak Nitrite✺----------------Drop a follow here: @Averoy_Apoorv_Analysis ✺
✺✺ Target: 1000 Followers ✺✺
✺Strategy 1: Only on D close, the stock is currently 3% up so if it closes around 3.5 to 5% up the stock is good to go long for :), it took support from a perfect place and now giving two pattern breakout as a sign of reversal of trend and making higher low thus can make a higher high too as per the structure of the trend :), if done then it might give 10% + return in a small span. SL and everything should be as per your setups only, I am just providing info about a potential trade :) now do research about it if you find it worthy
✺IMPORTANT POINT: Firstly do your analysis then only think of this trade and set the risk first, only that amount that you are willing to lose and will not get affected even if you lose it and also that amount if you lose it you won't curse me if the analysis flops hahaha just kidding, jokes apart, be patient to capture the movement and be impatient to get out if its a losing one and SL is triggered, don't put tight SL rather use less capital
✺--------------------------- Motivational and psychological area ✺
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions, and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
✺------------------------------------ Some info-------------------------- ✺
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
<<<<<< Thank You Have a Nice Trading Day >>>>>>
DEEPAK NITRITE Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
Deepak Nitrite - Strong Support- The stock is moving sideways for over a month.
- Deepak Nitrite has shown strong support at 1700 levels.
- Resistance is at 1990 levels.
- RSI is at 45, which is a good indication of accumulating this stock.
- Watch for increase in volume , this can make a new all time high in coming weeks.