Reason for long
a) Weekly breakout possible, it the day closing is above 1100
b) Volume spurt still not validating the upward surge hence SL compulsory
c) Consolidation breakout possible, but still it is a risky entry
d) Only known positive variable is previous positive results
Dhanuka Agritech Ltd is now trading at major support level 1050 and it can go up from here.
key fundamentals points
1. no debt
2. Free cash flow is positive
3. net profit is increasing from last 5 years
4. total assets are almost 4x of liability
Good weekly chart
Don't focus on intraday move
Stock has given a Breakout above 1050 previous week
Target 1300/1400
Stop loss 1200
I am just representing my views
For educational purpose only.
NSE:DHANUKA
✅ #DHANUKA trading above Resistance of 1024
✅ Next Resistance is at 1280
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This...
Reason for long
a) Mr.14 set up
b) consolidation breakout
c) weekly breakout
d) QQE support
e) super vwap breakout
f) Triangle breakout
g) SL compulsory
First target is 1:1 and for 2nd target SL need to be shifted to entry point. (For 1st target 60% Qty unloaded and for 2nd target remaining qty. This help us to maintain at least 1: 1.5 in several occasion)
Dhanuka Agritech Q2 (YoY)
Profit up 39.5% at ₹101.8 cr Vs ₹73 cr
Revenue up 13.8% at ₹617.9 cr Vs ₹542.9 cr
EBITDA up 45.1% at ₹141.6 cr Vs ₹97.6 cr
Margin at 22.9% Vs 18%
Technically, waiting a closing able 900 for levels 1000+ long term 1500+
BUY - DHANUKA AGRITECH
CMP - Rs. 840
Target - 1: Rs. 1029
Target - 2: Rs. 1272
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Timeframe - 2 months - 6 months
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Technicals - Trendline Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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After having a ~42% downtrend which started from July 2022 the stock have broken the trend line and mark the end of the down trend. Which means the stock can either go sideways or into an uptrend.
After breaking out of the base it went into a 12 week consolidation in ~14%range it has finally broken out. Volume support is seen too.
On a monthly timeframe it has...
In the Weekly Chart of DHANUKA ,
we can see that, it has given Inverted Head & Shoulder breakout.
Let it retest the Trendline or enter on retest with Candles Low as SL.
Expected momentum is shown in chart.
bullish dhanuka very good formation + long consolidation + good volume.
only for information and education purpose. please consult your adviser before investing.
#trading #long #midcap #india #agri #chart #bullish #chartpattern #priceaction #technical analysis
Dhanuka Agritech is manufactures a wide range of agro-chemicals like herbicides, insecticides, fungicides, plant growth regulators in various forms liquid, dust, powder and granules
