Stocks to Buy | Deepak Fertilisers | Bajaj Broking

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The Bajaj Broking Research Desk under their Alpha Trade category has recommended Deepak Fertilisers as a strong investment opportunity. The market price of Deepak Fertilisers as of 12:58 PM is Rs. 761.30, and the research desk has identified a target price of Rs. 828 for this stock. Deepak Fertilisers is this week's stocks to buy.

Deepak Fertilisers has shown a structural turnaround with a breakout above multiple high for the past 18 months. This blog provides a detailed technical analysis based on the latest financial data and projections.

Explore: Deepak Fertilisers & Petr Share Price

Technical Breakout:

  • Current Status: Deepak Fertilisers has generated a breakout above multiple highs, signaling a structural turnaround.
  • Recent Performance: The stock has broken out above a seven-month rounding formation, supported by a strong volume, indicating larger participation at the breakout area.
  • Volume: The breakout was accompanied by a trading volume more than six times the 50-week average of 45 lakhs.
  • Target Price: The stock is expected to reach 828 levels in the coming month, being the 138.2% external retracement of the previous breather (714-450).

Key Numbers:

  • Recommended Range: Rs. 740 - 756
  • Target Price: Rs. 828
  • Stop Loss: Rs. 703
  • Potential Upside: 10%
  • Duration: 35 Days

Breakout Analysis:

  • Breakout Above Multiple Highs: Indicates a structural turnaround.
  • Rounding Formation Breakout: Supported by strong volume, highlighting larger participation at the breakout area.
  • Expected Movement: The stock is expected to head towards 828 levels in the coming month.

Key Takeaways

Deepak Fertilisers showcases a strong market position with promising technical breakouts and financial performance. The stock is on a growth trajectory, making it a compelling stock to buy. With robust financial metrics and future projections, Deepak Fertilisers presents a solid investment opportunity in the share market today.

Bajaj Broking’s Alpha Trade Performance:

Bajaj Broking’s research desk has shared multiple stocks to buy recommendations under their Alpha Trade category, below is the summary of the performance of these recommendations:

SUMMARY OF THE ALPHA TRADE PERFORMANCE

Total Calls

18

Open

4

Closed at Cost

0

Positive

13

Strike Rate

93%

Average Return

9%

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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