DEVYANI trade ideas
Banknifty analysis 8th NovBanknifty analysis for 8th Novermber. It is going to be a short opportunity (best trade). For long there is not higher probability. Price is making lower lows on Daily time frame
Devyani IPO box breakoutIPO box breakout devyani target 23%
same was seen in TATVA booked 22% profit on 3 nov,21
Post Covid stock CMP 118Devyani International is the second largest food chain business in india after Domino's with 17.5 % market share. Covid restrictions in the county has given a small hiccup for the growth. Stock is available at discount compared to listing price. Next target is 122 and long way to go. This is the perfect time to invest.
#DEVYANI Next likely scenario. As shown in the previous chart, it did hit my 127/128 target. Now there are two possibilities. One is straight up if it pushes inside upper channel and 2nd is it gets rejected here and looks for a back test before moving higher. My bias is a back test below from this point.
DEVYANI International breaking outDEVYANI has broken out of its down trending channel and possibly looking for 127 as a quick upper target.
