What a Support!!Today Deyaar bounced from the support zone in fact today was its last chance if the support was broken today it could have gone down till 0.420 levels. Thankfully it performed very well and the closing is very good it is surely good for a buy next strong resistance is at 0.520 and then 0.540 respectively. Looking very bullish now!!
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DEYAAR trade ideas
I hope I am wrong :)Well if we talk about the over all trend its still safe to say we are in a uptrend, but on daily chart surely we are seeing weakness. Deyaar could not break the resistance of 0.500 and how its under pressure. After the inverted head and shoulder pattern it broke out and also hit the target but could not continue the run. Volumes are very thing on Deyaar, it have broken the support zone today. It have to open up with a gap up tomorrow and close positive to stay positive :)
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2 Scenarios & Big MovesScenario 1 - Its at a very right place to burst upside that will be very ideal and a profitable, here I can see pattern with in a pattern and both are bullish. First is the triable pattern which is clearly formed and second is a potential inverted head & shoulder pattern that may form in coming days. To activate this pattern its very important that it stays above 0.475 once it breaks the resistance with big volume that is 0.50 we will see aggressive buyers coming in and pushing it higher and higher. For not its looking very good i would recommend to buy atleast some quantities at the current level so that you dont miss the breakout and once the resistance is broken more quantities can be added.
Scenario 2 - If the pattern fails it will drop back to lower levels and trigger more sell which obviously we dont want to see.
Since there are 2 bullish patterns and market is also positive i think it may break to the upside most likely. Even in higher time frames this stock is bullish!!!
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Change in momentumWe can identify a double bottom patter in deyaar which is bullish also it have broken the neckline/resistance and closed higher. With the current scenario in the market with low volumes there are high changes that it may come back for the retest, this will be a buying opportunity for those of have missed the trade. Shift in the momentum is seen lets hope that is sustains the gains. No harm in taking some small quantities.
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Another Limit UP?Its holding at the support level for now also we can see a inside day candle - bullish, second gap is already filled a gap before that is not yet filled. If the market is positive and if it goes above 5.38 expect a limit up again. Else we can see some weakness and it come come down to fill up the gap it will but a opportunity - buy the dip!!!
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Good PotentialIt has a very good potential to continue its journey to 0.378 area. With thursdays closing looks like bulls are back and holding the current levels. We expect more upside in coming days. Its been breaking the resistances so far and i am bullish on this stock!!
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Wait for a confirmationIf tomorrow if it holds in this support zone atleast for 1 hour and then if it gives a bullish signal its a good buy!!! the more it stays at support zone the better. Deyaar have changed its direction, now its looking bullish. Hope its not a pump and dump thing.
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Will It Break The Resistance?Right at the previous support level we are seeing good bounce with above average volume, as of now price is just at 200 EMA so its a do or die situation!! if we can see a close about 0.30 it will be bullish and we can expect more upside in coming days. For now its in a no trading zone wait for a proper confirmation to enter the trade.
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My Pick For The WeekIt was in a serious deep correction after hitting 0.342 it got rejected and now it have taken a good bonce where it have previously consolidated. Good price action is seen at the same level with good volumes. This is a good buy for the coming week. If it opens with a big gap down in sundays session avoid it, if it opens flat of with a small gap up its a good buy.
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Still Looks BadAfter performing so well and touching 0.342 it have been in a deep correction, as of now its at a crucial support zone. Still its looking weak with low volumes if this level is strong it should take a big bounce from here. We can only buy once we see a closing above 0.296 for now keep STALKING
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Bear Are ActiveDeyaar after hitting the resistance around 0.340 made a bearish pattern - double tops, also we can see another patter that is bearish too M pattern. As of now its in a NO trading zone, most likely we should see a retest of 0.30 area. Also there is a gap that market created last week so market can also try to fill up that gap which will now act as resistance.
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How Many More Times????Will it break this resistance area?? its a strong resistance area and have been rejected so many times. I hope it will break this time we can expect a bullish cup and handle pattern to form and hopefully this time it should break the strong resistance. Its very important for it to hold above 0.30 else it can again drop to 0.290 area. Need some strong bull power!!!
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When will it cross?Its getting rejected again and again from the same resistance area, it means resistance is getting weaker and weaker. For it to become bullish we want to see a good closing above the resistance area with good volumes. UPP and DEYAAR usually follow each other, UPP have made a breakout already we wait for deyaar now. It can also break to the down side, let hope the breakout is bullish!!
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Good News, Good PushDeyaar usually dont make big moves, after the news we can see nice push to the upside but its still not in a uptrend its just a push or a bounce. No need to rush and enter as the big boys who just bought it will book their profits soon and the price will come down. Wait for a breakout of the resistance that is around 0.275 - 0.277 let it close above this and come back for a retest. Once you see a green candle again buy in big quantities for the next target at 0.298
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