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You are here : IndiaNotes >> Research & Analysis >> Companies >> Deep Industries Ltd. >> Research

Deep Industries - Fresh breakout to uncharted territory

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Deep Industries - Fresh breakout to uncharted territory


Deep Industries caters to the services required by Oil and Gas companies like ONGC and Reliance.


Friday's chart shows a fresh breakout in Deep Industries.

 


This breakout has come with large volumes. The stock is ready for next move. Breakouts are followed by consolidations. We do not know whether to stock will continue the movement or it will pause for a consolidation. I have marked the support areas on chart below. Entry levels can be tricky.


  • Entry 1- 285.45
  • Entry 2- 278
  • Entry 3- 261


When trading breakouts, the Risk Management becomes more important. However this pattern can give some quick gains.


To understand the risk of buying breakouts, you can read this article-


Buying 'Breakout' Vs buying 'Near Support'   

 

Disclaimer: The contents produced here are purely for educational purpose. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on above write-up




 
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About Bonvista Financial Planners
Bonvista Financial Planners, a stock market consultancy and training company is run by Unmesh Deshmukh, an expert in Equity- Cash, Futures and Options. Unmesh is a rare combination of Financial Planner and a Technical Analyst. His trading has 'Portfolio Approach' instead of 'a la carte' recommendations. Bonvista Financial Planners can be accessed at www.bonvista.in. Unmesh also updates his blog regularly at bonvistaplanners.blogspot.in.

For more information please write in to [email protected]

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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