The stock is forming H & S formation on weekly time frame.
if the channel is broken, the fall could be at least till 136 and then 111.
on daily time frame, both RSI & MACD is showing negative divergence.
I am bearish on this stock.
note: i am not SEBI registered and this is my outlook. this is not an invite to trade. please do your due diligence before investing
The stock recovered from support level in daily time frame and showing momentum for further upside. Price closed above ema 20 with good volume.
Target and Stop Loss marked in chart.
Thanks
-AJ
Disclaimer : The analysis published for educational purpose only.
Strong volume build up seen in weekly TF in this stock and near to complete fav pattern round bottom, follow chart for proper support and resistance levels.
Devyani International runs popular food chain Yum Foods in India which owns KFC, PizzaHut and may more other well known brands, fundamentally company is strong and near major support levels of 148 - 140.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Price action is showing the supply zone.
Sellers are strong, you can notice strong selling in the last two rallies.
You can sell after reversal from the Fibonacci level (0.5,0.6) as the stock is above the weekly pivot.
DEVYANI INTERNATIONAL as per Day Chart Analysis have chances to move uptrend Stock ABOVE 191 TARGET 194.
As such Nifty is in Downtrend Mode up to 18325 to create fresh demand and Bank Nifty is in Uptrend Mode.
So trade carefully for this week.
Happy Profitable Trading to All...
Buy only if the stock goes first to test the resistance at least @185
Entry: 191
Target 1: 196
Target 2: 204
Target 3: 220
PRO:
- Strong support @183
- Stock looks in a consolidation phase.
CONS:
- In Downtrend
- No Higher Highs
Always wait for the breakout happened with the pullback inside the pattern (GREEN arrow) and when it happens with the straight impulse wave( RED arrow) it doesn't mean you don't have to take position , yes it will go up (as usual with stoploss) , but you see here most of the time, it get pulled back and you may in time loss (most important) . That YELLOW marked...
VERDICT DEVYANI INTERNATIONAL
Getting Ready For Big Move
Consolidating in Triangle and Taking Support
RSI and Indicators Turning Bullish
Keep Watch
Only For Study Purpose
![DEVYANI: [MID-LONG TERM INVESTMENT] DEVYANI INTERNATIONA LOOKS GOOD](https://s3.tradingview.com/b/bkLdRV2L_mid.png "[MID-LONG TERM INVESTMENT] DEVYANI INTERNATIONA LOOKS GOOD")
