Deepak Nitrite – Breakout Trade Idea

🚀Deepak Nitrite – Breakout Trade Idea

Ticker: NSE: DEEPAKNTR
Timeframe: 1D
Bias: Bullish Reversal

📊 Technical Setup

Stock has been in a long-term downtrend but is now forming a base near ₹1730–1760 support zone.

Price has successfully bounced from support and is challenging the downtrend resistance trendline.

RSI turning upwards from oversold zone – early signs of momentum shift.

Strong volume confirmation on the recent green candle.

📌 Trade Plan

Entry: ₹1845–1860 (on sustained close above resistance trendline).

Target 1: ₹2100

Target 2: ₹2450

Stoploss: ₹1730 (below recent swing support).

Risk:Reward ≈ 1:3

🔮 Sentiment / Astro Note (Optional)

Current planetary transits favor chemicals & specialty sectors, which may fuel momentum in Deepak Nitrite in coming weeks.
Venus (significator of chemicals, fragrances, and allied industries) is currently strong in transit, enhancing momentum in specialty chemicals.

Mercury supports industrial growth themes, and its alignment is favoring mid-cap chemical counters.

The Moon’s transit in benefic houses this week further boosts short-term liquidity and sentiment in cyclicals.

Historically, chemical sector stocks show upward bias during such Venus-dominant transits, and Deepak Nitrite fits well in this sectoral play.

⚠️ Disclaimer

This is an educational trade idea, not financial advice. Please manage risk and use your own discretion before trading.