Deepak Fertilisers Bang On- Two powerful indicators you cannot miss!
Oct 30, 2024
Simple Elliott wave and Ichimoku cloud creates wonder if one combines it together! See for yourself how we were able to capture such a significant move in Deepak Fertilisers, take a look at how we chose Deepak Fertilisers, a momentum stock that has rallied by more than 17% in just 3 trading sessions.
We published Deepak Fertilisers in "Vayu Momentum report" on 25th October 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
DEEPAKFERT Daily chart anticipated as on 25th October 2024
Wave analysis anticipated as on 25th October 2024
In the previous session, Deepak Fertilisers closed on appositive not with a marginal gain of 0.60%. On the daily chart, prices are trading in rectangular pattern since the past 2 months indicating a phase of accumulation in the stock. A daily close above 1130 can suggest breakout of the said pattern which can result into fresh rise in this stock.
Stock faced support from the Supertrend line and a sharp bounce of more than 18% was seen in just 2 trading sessions. As per wave perspective, wave iv got completed on the downside and fresh leg has started unfolding on the upside in form of wave v.
Key Resistance: 1200
Key Support: 1090
Strategy: long positions can be created above 1130 with the stoploss of 1090 and target of 1210. (One can book part profit near 1160-1165 and trail stoploss to cost)
DEEPAKFERT Daily chart Happened as on 30th October 2024
Happened:
The stock moved as we had anticipated. Deepak Fertilisers gave a breakout out of a consolidation with huge volume and achieved our target within 3 trading sessions and showed rally of more than 17%. Stock made life time high near 1335.95.
This entire moved we captured successfully by combining Elliott wave with simple price pattern.
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