Deepak Fertiliser is consolidating in a range since a year and have tried multiple time to break the resistance area.
In a weekly candle it attempted a breakout from major supply zone and formed a doji candle above it which is a candle of confusion. Pice above dojo candle will be confirmed breakout or it can once retest in retest zone and than give a breakout
As per my analysis, NSE:DEEPAKFERT is now consolidating for upper side. My idea is to take buy entry at level of 777 with stop loss of 745.
My expected up side target will be 830 & 875. It could be low risk and high reward trade.
Note: This is my personal analysis, only for learning. Thanks.
Breakout already has taken place.
There might be a retracement back to 2100-2150 levels before it pushes higher.
My Plan: I would jump in during the retracement with a stop at 2096 and target at 2300 levels.
