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Buy Deepak Nitrite, target Rs 330

The stock can be bought at current level and on dips to Rs 275 with a stop loss below Rs 265 and a target of Rs 330 levels.



After hitting high of Rs 298 in January this year, Deepak Nitrite has been consolidating between Rs 280 and Rs 215 levels for the past seven months. The price has seen a strong momentum and high volumes this week which indicates participation from lower levels.
It has now closed at a breakout level. The price has also given a breakout from Bollinger band on the upside with the expansion of band on daily as well as the weekly chart indicates that the stock is likely to rally from current level.
The stock can be bought at current level and on dips to Rs 275 with a stop loss below Rs 265 and a target of Rs 330 levels.
MORE WILL UPDATE SOON!!
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