Deepak Fertiliser - Bounce
With fertiliser stocks falling all over the world and news that brazil is facing a fertiliser shortage some of these stocks have started bouncing.
Watch for this space closely.
Technically DF has bounced off a Fibo support + 200EMA. The stock is trying to recover back into strength. I would look to buy this stock in 3 phases..first above 387.50, then above 395 and finally above 445.
As markets are volatile thats the reason we starting with a much smaller allocation to keep SL deep at 345 (below the 200EMA)
The bigger trigger for this stock is the ammonia plant which comes after 15-18 months.
Watch for this space closely.
Technically DF has bounced off a Fibo support + 200EMA. The stock is trying to recover back into strength. I would look to buy this stock in 3 phases..first above 387.50, then above 395 and finally above 445.
As markets are volatile thats the reason we starting with a much smaller allocation to keep SL deep at 345 (below the 200EMA)
The bigger trigger for this stock is the ammonia plant which comes after 15-18 months.
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