Deepak Nitrite Ltd, part of the specialty chemical sector, has surged 30% in the last 3 months, breaking out of a 3-year consolidation. The stock is trading above a crucial support level, and experts suggest short-to-medium-term traders buy on dips for a target above ₹3,400 in the next 1-2 months.
After hitting a 52-week high of ₹3,168 on August 1, 2024, it retraced but found support at the 50-DMA and bounced back. The stock breached the key ₹2,700 resistance in July and has since held above it, closing at ₹2,941 on September 9, 2024.
Traders can view any dip towards ₹2,700 as a buying opportunity. Technically, it's trading below the 5-DMA but above the 10, 20, 30, 50, 100, and 200-DMAs. The RSI is at 53.2, indicating neutral momentum, while the MACD shows a bullish trend.
#deepaknitrite #StockMarket #Semiconductor #LarsenAndToubro #Tech #StockMarket #investingtips #StockDiscussion #stockstofocus #StocksToBuy #StocksToWatch #banknifty #Nifty #Finance #SwingTrading #BreakoutStock
After hitting a 52-week high of ₹3,168 on August 1, 2024, it retraced but found support at the 50-DMA and bounced back. The stock breached the key ₹2,700 resistance in July and has since held above it, closing at ₹2,941 on September 9, 2024.
Traders can view any dip towards ₹2,700 as a buying opportunity. Technically, it's trading below the 5-DMA but above the 10, 20, 30, 50, 100, and 200-DMAs. The RSI is at 53.2, indicating neutral momentum, while the MACD shows a bullish trend.
#deepaknitrite #StockMarket #Semiconductor #LarsenAndToubro #Tech #StockMarket #investingtips #StockDiscussion #stockstofocus #StocksToBuy #StocksToWatch #banknifty #Nifty #Finance #SwingTrading #BreakoutStock
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.