View on Deepak Nitrile on Back of Good Quarterly Result- Dt. 06 May 2019

Deepak Nitrile: 

Stock is trading higher today 8% Up on back of good quarterly results and made a high of 305 but currently reversed from that level. We can closely watch if it it decisively closes above its all time high of 306 then stock will make a new high if it sustains above that level.  

This is a small cap stock so it is usually volatile in nature so keep volatility in mind & follow your stop loss in your trade.

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CMP: 295 Dt. 06th May 2019

Major Support-1: 280

Major Support-2: 255

Major Resistance-1: 306
Major Resistance-2: 345

(Note: Whenever price closes below its Support level or closes above its Resistance level then further move in that direction will accelerate. If it does not then it is advisable to accumulate near to support & book the profit near to resistance level.)


                                                                  Deepak Nitrite Ltd-Weekly Chart 

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Above details are my personal views on the Stock so please do your own analysis before doing any trade/invest.

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Jagdish Jha

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