DEN NETWORKS HAS MET THE RESISTANCE AT 98.
THE SHARE PRICE IS EXPECTED TO REACH THE LOW SIDE OF 83, IN THE COMING DAYS.
IT IS BETTER TO BOOK PROFITS PARTIALLY, IN CASE ONE WANTS TO HOLD.
In weekly, double bottom formed then breakout happened above neckline, also round bottom formation is in progress,
also candles are pushing the upper BB upward and BB is expanding
with a sl - 93, 1st tgt - 132, 2nd tgt - 168, long term tgt - 229
Den has damn green volume within it.
you can go for long.
1 - high volume observed
2 - cup pattern
3 - accumulation has done up to now
maintain stop loss based your type of long
Stock has formed a small IH&S pattern with a target of 130. SL can be kept at 98. Once resistance of 113-114 is cleared, it can move sharply to the target.
DEN NETWORKS LTD
BUYING ABV :-106
BUYING RANGE:- 106 TO 103
TGT :-125 130 134
SL- 99
Everything mentioned over chart... Not SEBI Registered ...
Views are personal... Consult your investment adviser before making trade....
Stock trending upside. First target 99-103. Second is 115-119 and the Third is 132-135 level. Price above on all Moving averages. Management commentary is very strong.
consolidation appears to be coming to end stage at bottom levels. And stock is finding major resistance every time around 100-105. A break out may happen at 105 level. and next resistance is at 120 levels.
Its only an opinion and not recommendation in any way for investing or trading.
