Deepak Nitrate Cup and Handle FormationDeepak Nitrate Cup and Handle Formation,
Handle is currently in formation once breakout can buy and wait for target
DEEPAKNTR trade ideas
The daily chart of Deepak Nitrite LtdThe daily chart of Deepak Nitrite Ltd. indicates a potential bullish breakout from a falling wedge pattern, with the stock currently trading near ₹2,709. Key support is around ₹2,550, and resistance lies at ₹2,800–₹2,900. A confirmed close above ₹2,750 with strong volume offers a good entry opportunity, targeting ₹2,900–₹3,000 initially and ₹3,200 as an extended target. To manage risk, a stop-loss should be set at ₹2,550, yielding a favorable risk-to-reward ratio of ~1:3.3.
Channel Breakout & Doji candle reversal in Deepak NitriteNSE:DEEPAKNTR A clear channel breakout could be seen with a bigger bullish candle & EMA 44 crossing the bullish candle.
A doji reversal reconfirms the bullishness of the stock
The target is ATH.
DEEPAKNTR good buy signal !!CMP : 2999
Strong BO Counter
📌Descending triangle Pattern
📌 Volume
Keep on Radar.
Buy on dips
Fulltime skilled F&O trader may take position in Future. #Note- Trading into F&O is risky as it relies on momentum.
VIEW ON DEEPAKNTRGood chart structure
Stock has given a good breakout in yesterday's session
Stock to cross its October highs
Target 2950/3020/3100
Stop loss 2900
I am just representing my views
For educational purpose only.
Cup & Handle PatternIn the chart of Deepak Nitrite Ltd (DEEPAKNTR), we can observe a cup and handle pattern, a classic bullish continuation pattern. The price has successfully broken above the previous resistance level around ₹2,800, completing the cup formation. However, after a slight pullback forming the handle, the stock is retesting the breakout level.
Key observations:
The cup and handle pattern suggests a long-term bullish move, and the breakout could lead to significant upside potential.
The target based on the height of the cup points to a move up to approximately ₹4,000.
Traders may look for confirmation of the handle breakout, which would provide better risk-reward opportunities for either swing trading or positional investing.
Quote: "Patience is key as Deepak Nitrite forms a textbook cup and handle, signaling a potential breakout. The stock is testing the waters, but with confirmation, it could surge to new highs. Watch for the handle breakout!"
Deepak Nitrate - Sideways to bullishStock approaching the area of strong support
Area of support - 2770-2790
Wait for the stock to approach the area
It may start making base around the area before making higher high again
View negates below 2750
Tgts in coming days will be 3000/3200
Deepak Nitrite Ltd. (NSE: DEEPAKNTR)
Deepak Nitrite Ltd. (NSE: DEEPAKNTR) on a monthly time frame,
Key Observations:
Price Action:
The stock saw a significant drop of 44.52% (from around ₹3,000 to ₹1,667).
Following this decline, the price has now recovered and is trading at ₹2,956.90.
Target Projection:
Based on the chart, there is a projected upward move, with a potential target of ₹4,229.80 (a 42.82% increase from the current price).
This upward projection suggests further bullish momentum in the stock.
Support & Resistance Zones:
Support Zone: Around ₹1,667, representing the lowest point during the recent drop.
Resistance Zone: The projected target zone near ₹4,200 is the next major resistance level, based on the chart setup.
Volume & CVD:
The Cumulative Volume Delta (CVD) data at the bottom of the chart indicates steady buying pressure, as seen in the increased green volume bars, supporting the recovery.
Conclusion:
The stock of Deepak Nitrite is showing recovery after a steep decline and is on a bullish trajectory with a potential for a 42% rise in the coming months. The analysis suggests strong recovery momentum, with a target of ₹4,200+. Traders may consider this as a medium to long-term opportunity based on the chart pattern.
DEEPAKNTR 1HRINTRADAY TRADE
- EARN WITH ME DAILY 10K-20K –
DEEPAK NITRITE Looking good for Downside..
When it break level 2907 and sustain.. it will go Downside...
SELL @ 2907
Target
1st 2877
2nd 2859
FNO
DEEPAKNTR OCT FUT – LOT 6 (Qty-1800)
DEEPAKNTR OCT 2950 PE – LOT 6 (Qty-1800) – PRICE (104.85)
Enjoy trading traders.. Keep add this STOCK in your watch list..
Big Investor are welcome..
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DEEPAKNTR - Best time to buy for long termThe stock is in a strong uptrend after breaking out of a long consolidation phase. It has filled a previous gap and formed a new base, signaling continued bullish momentum.
Entry: Current levels around ₹2,896.
Target 1: ₹3,450
Target 2: ₹3,800
Stop Loss: ₹2,650 (below the breakout level).
An Ideal Wave Theory pattern Friends i have made an efforts in Putting up the way i see as Developing Pattern
based on the Method of wave theory
if you have Questions or suggestions please comment
This is educational content
Thanks
Deepak NitriteGood rising pattern formation with Ray Angle analysis in Deepak nitrite. It will activate ones it cross 2340 mark. Then you can look for above targets. Head & shoulders formation is also on the way.
Deepak Nitrite Ltd - Breaking out of a 3-year consolidationDeepak Nitrite Ltd, part of the specialty chemical sector, has surged 30% in the last 3 months, breaking out of a 3-year consolidation. The stock is trading above a crucial support level, and experts suggest short-to-medium-term traders buy on dips for a target above ₹3,400 in the next 1-2 months.
After hitting a 52-week high of ₹3,168 on August 1, 2024, it retraced but found support at the 50-DMA and bounced back. The stock breached the key ₹2,700 resistance in July and has since held above it, closing at ₹2,941 on September 9, 2024.
Traders can view any dip towards ₹2,700 as a buying opportunity. Technically, it's trading below the 5-DMA but above the 10, 20, 30, 50, 100, and 200-DMAs. The RSI is at 53.2, indicating neutral momentum, while the MACD shows a bullish trend.
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Deepakntr take strong buy 2958 and Target 3122Deepakntr monthly pivot 2958 fix target 3122. This is strongly taken
DEEPAKNTR -Inverted Head and shoulder— Near Breakout -DailyDEEPAKNTR-Inverted Head and shoulder— Near Breakout—Daily
Name - DEEPAKNTR
Pattern - Inverted head and Shoulder
Timeframe - Daily
Status - Breakout with good volume
Cmp - 2988
Target - 3548
SL - 2625
DeepaknitrateBased on price moving and Ema
positions Up move possibility is higher
This is only for educational purposes.
DEEPAK NITRITEPrices have been in a Consolidation Phase since more than a year.
Monthly RSI is turning from its Oversold Zone.
On the Daily Chart, prices have shown some signs of strength after breaking out of a sideways pattern.
Price reaction after Quarterly Results have been good.
‘Safety first’ investors can wait till stock clears out of the consolidation.
‘Value Investors’ can look at this as a long term investment bet.
Deepak nitrite Huge upside potentialDeepak Nitrite fundamentally strong stock. If you look at the quarterly chart, it has been respecting rectangle breakout. Triangle trendline breakout done. Rectangle breakout done. ATH.
Pivot R2 brokeout.
DEEPAKNTR ROUNDING BOTTOM PATTERN BREAKOUT SOON 50-100-200% MOVE1.DEEPAKNTR currently having rounding bottom breakout
2.Volume built-up observed near ATH
3.Realising quaterly earning on Aug 5th
4.After consolidating nearly 2.5years breakout with volume taking place
5. CMP-3077 SOON 3855,5200,6510,7474,9999+ COMING TF-2-3 YEARS
