Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
1. Inv. H&S Break Out on Daily Time Frame.
2. Positive Divergence.
3. Closed above 50MA
4. Narrow range of 2385-2527. Short Term Target 2525+
5. For higher Target of 3000+, I'd wait for closing above range.
6. Views negated below 2285 DCB
The stock is trading at weekly trendline and holding itself above it. Seems like bulls are still here. We have been buying all the dips like this since a long time. Trade on confirmation. Level has to break. This is one the best bullish stocks ever.
This is a Swing / Positional trade.
I can see that a possible bullish momentum can occur in upcoming period because of:
1) Price action is taking support at 0.618 levels of Fibonacci which is golden ratio where trend can possibly reverse.
2) Another support is prior resistance (consolidation) got breakout and that same level will now act as...
1) On daily time frame, we can see in last two trading day, it has been taking support from 100DMA.
100DMA is it critical supprot.
And we can see that from 2180 to 2200 is major support.
Please refer below chart : 1day Time Frame.
Upper trendline which was acting as resistance is possibly acting as support now & since the price is near support level, it is a good idea to go Long in this stock. Excellent fundamentals & results to be declared shortly, so expecting a rally in near future. For safe traders, please wait for entry above 2951 on closing basis.
Possible targets - 3050 followed by...
Deepak Nitrite break out after long consolidation with good volume, Company posted a good quarterly numbers, many of there products are in short supply and prices of the product have increased in the market. One can buy with atarget of 2300 ++ with SL at 1900