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We are going to analysis the technical analysis of Deepak Nitrite and Fundamentally the Company was very strong and for Wealth Creation, this script is one of the best example.
Technical Analysis for Short Term:
Script has formed in Triangle Pattern and Breakout has happened both in weekly and daily time frame. Trend of the...
Stock has a crossover in Relative strength against SMALCAP index along with bullish supertrend. Stock is on ATH therefore no strong resistance is available on chart. Resistance created on weekly levels has been broken and can turn into support in coming days.
Note: This is for educational purpose only. Please do not trade in F&O based on this.
There seems to be a bullish breakout post consolidation with high volume. RSI above 70 indicates bullish momentum.
SL: ₹ 1800
Stock has given a breakout of strong resistance level 2000 on daily chart with a huge volume.
Stock has given a retracement of 38.2% and is ready for next targets: 2060, 2100, 2160 & 2350.
RSI: 71
Entry: Buy at CMP or at dips around 2000.
SL: 1840
Note: Only for educational purpose
Stock has given range breakout with volume. We can buy Half quantity at 2035 and half quantity if price retraces the range at 1984. For target of 2250+. Stop loss should be 1875 since it was a strong support. Please feel free to like comment follow
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
See Magic of break out pattern here.
Bought and average in between 1650-1750. Gave break again consolidate again big break today.
Perfect Swing trade.
Next target can be seen 2300.
BUY DEEPAKNTR
SL AND TARGETS MENTIONED ON CHART
Disclaimer: The charts are for educational purpose. Please consult your financial advisor before investing.
