DISCLAIMER : . I am not a SEBI Registered analyst. All chart analysis I publish are educational and information purposes only
Dhanuka has broken the trendline, It is at bottom of CUP formation, GO for a target of 1050 in 1-2 months, stock can broke any day as this sector has not moved.
DHANUKA IS FORMING A BULLISH WOLFE WAVE CMP 762 CAN MOVE TOWARDS 835/900/960/1040 VIEW INVALID BELOW 695
DHANUKA has given breakout on 1h time frame, however it is trading at resistance trendline on daily time frame. watch this stock for breakout, 700 on lower side and 760 on upside, in future date upside price may change as it is descending triangle. if it breaks down 640 is a good price to enter, which is a 200DMA.
Closing below 690-700 on daily basis will pull the stock to 200DMA, which is placed 625. 625-650 act as a potential buy zone.
Support and Resistance are Marked on D candles. Formed a Base @ 710 levels. Volume Contraction observed. Price trying to Break 50 EMA Ongoing Consolidation in Stage 3 Expecting a BO to resume Stage 2 soon.
NOTE: FOR EDUCATIONAL PURPOSE ONLY Price action suggesting buy. Hope to see decent momentum in the coming days.
Broken All Key Levels Below 50D EMA Last resort support level @ 715
Beautiful Triangle breakout, Tgt 887, 900 SL SL 800
Take action at your own risk
50 SMA is being respected. Good quarterly results. Whole rural segment is bullish. Target 1 - 910.
210 upmove, shallow correction. volume drying up on the pullback. reversal happening today.
I will buy Dhanuka at 50 EMA near the second support line. 680-700 is the dynamic support and will keep changing as the time elapses. SL will be below 650
Position based on breakout and sustain above that level
Buy DHANUKA only above 823 with Stop-loss at 739 for first target of 921. Idea is for 16th July 2020 onwards and I will update it if it is triggered or in case it is no longer valid. Reason is breakout