📊 Summary:
Deepak Fertilizers has successfully broken out of a Cup and Handle pattern with a weekly close above ₹1450, confirming a strong bullish trend. RSI supports the move, and price action aligns with classic breakout behavior.
🔍 Technical Breakdown:
Pattern: Cup & Handle formation – bullish continuation setup.
Breakout Zone: ₹1450 breached on weekly closing basis.
Stoploss: Revised to ₹1414 (recent swing low and pattern base).
Immediate Resistance: ₹1637 (recent high – minor resistance).
Next Target Zone: ₹1750–₹1850 (based on cup depth projection and pattern breakout).
RSI (14): 69.17 – just below overbought zone, strong momentum.
Volume: 1.24M – confirms breakout strength with good participation.
✅ Suggestions:
Trend Confirmation: Weekly close above ₹1450 = Confirmed uptrend.
Buy on Dips: Any retest toward ₹1450–₹1475 could be a good entry zone.
Short-Term Targets: ₹1650–₹1700
Medium-Term Targets: ₹1800–₹2000 (Cup & Handle measured move)
Stoploss (Trailing): ₹1414 (weekly close basis) – can be revised higher as price progresses.
RSI Alert: Watch if RSI crosses into 70–75 zone – that may signal potential overbought conditions; partial profit booking advised.
⚠️ Caution:
After a sharp breakout, minor pullbacks are natural – don’t panic on short-term dips.
Avoid chasing the price – wait for consolidation or minor retracement to enter.
📌 Conclusion:
Deepak Fertilizers has entered a strong bullish phase post a confirmed Cup and Handle breakout. Momentum is healthy, supported by volume and RSI. Maintain a bullish stance with a trailing stop below ₹1414, and ride the trend toward ₹1750+ over the coming months.
Deepak Fertilizers has successfully broken out of a Cup and Handle pattern with a weekly close above ₹1450, confirming a strong bullish trend. RSI supports the move, and price action aligns with classic breakout behavior.
🔍 Technical Breakdown:
Pattern: Cup & Handle formation – bullish continuation setup.
Breakout Zone: ₹1450 breached on weekly closing basis.
Stoploss: Revised to ₹1414 (recent swing low and pattern base).
Immediate Resistance: ₹1637 (recent high – minor resistance).
Next Target Zone: ₹1750–₹1850 (based on cup depth projection and pattern breakout).
RSI (14): 69.17 – just below overbought zone, strong momentum.
Volume: 1.24M – confirms breakout strength with good participation.
✅ Suggestions:
Trend Confirmation: Weekly close above ₹1450 = Confirmed uptrend.
Buy on Dips: Any retest toward ₹1450–₹1475 could be a good entry zone.
Short-Term Targets: ₹1650–₹1700
Medium-Term Targets: ₹1800–₹2000 (Cup & Handle measured move)
Stoploss (Trailing): ₹1414 (weekly close basis) – can be revised higher as price progresses.
RSI Alert: Watch if RSI crosses into 70–75 zone – that may signal potential overbought conditions; partial profit booking advised.
⚠️ Caution:
After a sharp breakout, minor pullbacks are natural – don’t panic on short-term dips.
Avoid chasing the price – wait for consolidation or minor retracement to enter.
📌 Conclusion:
Deepak Fertilizers has entered a strong bullish phase post a confirmed Cup and Handle breakout. Momentum is healthy, supported by volume and RSI. Maintain a bullish stance with a trailing stop below ₹1414, and ride the trend toward ₹1750+ over the coming months.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.