Dwarkesh Sugar is currently trading in a tight range and most likely forming a pivot range of <= 7%
What is the trade idea?
Stock has risen 222% within 21 weeks and formed a good 2T VCP pattern. Now it's been consolidating for a good 17 weeks and with the low risk range that’s currently in progress, it is on my high alert now.
My expectation is that 78.50...
This is the update to my earlier view shared on 14th Nov 21 on Dwarkesh Sugar.
As on 14th Nov expectation was that 78.50 should be crossed in the coming two weeks.
10 days later the overall markets became weak.
The above view was revised on 28th Nov indicating that 4-6 weeks of patience would be needed.
It took a total of 7 weeks instead of initial...
Very Strong Closing Done Today ATH crossed.
Volumes are 12 times more than average volumes.
Clean Break Out given according to charts.
Previous High broken today after long consolidation.
Short Term Targets Initial Target : 110
share name : dwarikesh sugar
reason of buy :
- Share is consolidation on their resistance area
of 2017 price is 80 which is a good sign
- Now, It is forming a pennant and we can see a
clear breakout on charts
- In upcoming days we can see targets of 120
with stop loss 60
May be Sugar is going to be more sweeter soon...
Good Triangular patter formation in process... Any breakout above the upper trendline will result in a protracted move.
Risk takers can add 50% positions at CMP rest can wait for the breakout level.
Refer the below attached links of some of the successful idea posted by me which can be a learning for you.
After breaking away from the triangle pattern DWARKESH (Dwarikesh Sugar Industries) has taken support at the previous short term resistance for the last three sessions and has begun an upmove today. All sugar industries are on a bull run; Dhampur Sugars is also on a similar pattern. A quick target of 82.50 is on the cards with potential to go even higher.
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...
Price has reversed from previous swing low. Upmove is supported by increase in volume , range and close near the day's high. Price is likely to continue upmvoe as long as 25.60 holds on daily closing basis.
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Disc : it's not an investment advice to buy or sell