Published on 28/09/2020 3:00:17 PM | Source: HDFC Securities Ltd

Momentum Pick - Buy Deepak Nitrite Ltd For Target Rs. 880 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #Chemicals Sector #HDFC Securities #Deepak Nitrite Ltd. #Trading Report

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Momentum Pick - Buy Deepak Nitrite Ltd For Target Rs. 880 - HDFC Securities


After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce today.

Currently, the price is making an attempt to show upside move above the key upper resistance.

The short-term trend has turned positive.

We observe a formation of positive candlestick pattern as per intraday/daily timeframe chart.

Volume has started to rise along with the up move in the stock price.

The daily/intraday RSI is showing positive indication.

The overall chart pattern of PEL July Future indicates a short trading opportunity. One may look to create long trading position as per the levels mentioned above.

Buy Deepak Nitrite Ltd @ 2-7 DAYS 798, 810 TGT 880 SL 792


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