Technical Stock Pick - Buy Deepak Nitrite Ltd For Target Rs. 2014 - HDFC Securities
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*After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce.
* Today’s upmove could be considered as an upside breakout of the narrow range movement/immediate resistance.
* The short term trend seems to have turned positive.
* We observe a formation of positive candlestick pattern as per intraday/daily/weekly timeframe chart.
* Volume has started to rise along with the upmove in the stock price.
* The intraday/daily RSI is showing positive indication.
* The overall bullish chart pattern of the stock price indicate long trading opportunity. One may look to buy as per the levels mentioned above.
Buy Deepak Nitrite Ltd Up to 3 Months CMP 1917.35 TGT 2014 SL 725
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