With the management talking about weak demand in Sept the expectation is of a weak quarter.
Add to that markets are not lighting it up so weakness all around.
Short below 2080 with SL above 2100. Will be a breakdown of the most recent support.
In the Weekly Chart of DEEPAKNTR ,
we can see that; it has given Trendline failure and decision making candle is formed on W breakout trendline.
Enter on breaking decision making candle's High with Low as SL.
Possible momentums are shown in chart.
📉 Alert! Bullish Pattern Spotted!
📊 Pattern: Rising Channel
📌 Symbol/Asset: DEEPAKNTR
🔍 Description: Stock is in a Rising Channel and there is a Law of Polarity also. It might act as a support. And best buy zone is lower support of channel.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just...
In the Weekly Chart of DEEPAKNTR ,
we can see that, it has given Trendline breakout and retested it properly.
Enter on breaking its high with low as SL.
Hold till above seen target.
A consolidation and breakout of the range marked can open up possibility to test previous swing highs. However since the company is facing a lot of headwinds as mentioned in it's concall. The bottomline is also flat on a QoQ basis.
About
Deepak Nitrite Limited is a chemical manufacturing company. The Company offers Sodium Nitrite, 2 Ethyl Hexyl Nitrate and...
NSE:DEEPAKNTR
marching towards 3000
cmp is 2280
This analysis is being done for educational and knowledge-sharing purposes.
This article does not offer any kind of buy or sell advice.
All stocks are positional and are held for a short to medium period of time.
Everyone is expected to conduct their own research and analysis to determine whether my point of view...
Deepak Nitrite Fundamentally Strong company. Institutions increased stakes in Apr-Jun Quarter. Triangle breakout. Will fire once consolidation breaks out.
Strong breakout from a long consolidation
Decent volumes
Above EMA 40
RSI at 60 and rising
Great risk reward ration of 3+
Chemical sectors is getting attention and expected to continue the momentum in the short to medium term
Identified flag and pole pattern in weekly time frame, Flag and pole breakout and retesting done with good positive candles. Entry, Target and stop loss mentioned in the chart.
(please note: This chart is only for educational purpose)
NSE: DEEPAKNTR is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 11% gain on...
Huge candle with huge volume taking support at previous swing low and now moving up with King Candle.
Fibonacci also indicate retracement of 0.618 done
Entry 2035
#DeepakNitrite CMP 2100 is respecting the Demand Zone between 1700-2000 and now ready for 2300/2600/2900 SL 2000 on weekly closing basis. Please do your own study before any investment.
