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  • Jatin Agarwal

Deepak Nitrite Breakout

This is the chart of Deepak Nitrite which recently gave a breakout.

Deepak Nitrite is an Indian chemical company which has been on an amazing run (fundamentally and technically). However, the stock was facing stiff resistance at its 52-week high levels, having tested it very swiftly post the covid-19 crash. It again tested those levels and then in a matter of days, re-tested, but this time it was successful in breaking that level. This ensured that the stock moved upwards. Look at the breakout candle and it won't take a genius to know that this is a big bullish sign.

Via this post I just wanted to bring your attention to how simple charts and trades can be, it all depends upon your setup.

To learn more about such simple ways in the market, you can contact me to join my investing course where we tackle investing from fundamental and technical perspectives.

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