DEEPAKFERT trade ideas
#DeepakFertilisers #DeepakFertilisers Is ready to fly as it broke the strongest level on monthly and weekly chart. Looks like there is a negative divergence on monthly chart and it has been resolved in lower timeframe ( weekly chart ). So #DeepakFertilisers ready to go long.
***** all my analysis are Only for educational purpose.. not a buy / sell signal.
Deepak Fertilizers ready for the uptrend!🤩💸🔥Buy Deepak Fertilizers & Petrochemicals Corp. for Positional Trading as well as Investment.💸🔥💸
Comment your views‼️😄
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💡About Company:
Deepak Fertilisers And Petrochemicals Corp. is one of the largest manufacturers of chemicals in India. It manufactures Technical Ammonium Nitrate (mining chemicals), Industrial Chemicals and Crop Nutrition. Its products are used in Explosives, Mining, Infrastructure and Healthcare.
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💡Market Position:
1) 2nd largest manufacturer of Nitric Acid in South East Asia & the largest in India.
2) Leading manufacturer and marketer of Isopropyl Alcohol (IPA)(market share of 65% in FY 2019-20.) The only producer & merchant of IPA in India.
3) Only manufacturer of NP prill 24:24:0 fertiliser & TAN solids in India.
4) Largest manufacturer of Bentonite Sulphur in India.
5) Market leader in speciality and water-soluble fertilisers in India.
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✔️ Technically & Fundamentally Strong💪💪
The company recently posted an Amazing Q3 Result.
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‼️ The stock had given a Multi-Year Breakout forming a Cup & Handle. After the breakout, the stock retested the breakout level. Now with the completion of the retracement which is evident by the rise in price with volume, we can expect a strong uptrend from current levels.
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💎@technofunda_trader
Few Important rules from my Trading Philosophy:
1. Don't compromise on the quality of stock.
2. Buy right, Sit tight- Only sell in loss if the fundamentals deteriorate, problems arise in management or any other similar issues.
3. Don't invest more than 5-10% in any stock & more than 25% in any particular or related sector. If stock is risky don't invest more than 2-3%.
4. Build position gradually as the stock rises.
5. Trade in the direction of the bigger trend.
6. Ride the trend, don't sell your winners early.
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Chart Analysis of DeepakFert (16 Jan 2022)Deepak Fertilizers
It is a manufacturer of fertilizers. Its principal products/services include Nitrophosphate,(Fertilisers),
Complexes (Fertilisers) and TAN.
Cup and Handle Breakout Done.
Accumulate in the range of 520-490.
Target : 625,910
SL : 480 WCB
Only for educational purpose. Not a recommendation.
Cup and Handle Break Out in Deepak FertilizerCHART ->Deepak Fertilizer WEEKLY SETUP
As seen per charts, there are few things to note:
1. In weekly time frame, it has given a huge cup and handle breakout.
2. Last breakout candle has been with good volume.
3. MACD crossover in the breakout candle.
4. Not for technical point of view but we have to take a note that -> FII INCREASED THEIR STAKE BY 10% IN COMPANY DURING Q3.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.