DHANUKA: A good upmove LIKELY!
Updated
DHANUKA is an Agro-Chemical Manufacturing Company.
The chart is a Weekly Timeframe analysis of Dhanuka.
We can see some good technical analysis points.
1. We can see a good support of 200 Moving average in Weekly Timeframe.
2. We can notice a Fakeout move in Dhanuka.
3. Dhanuka has broken its resistance trendline too and is consolidating above it.
There is some other reason of selecting this stock too.
Fundamentals of Dhanuka are good.
1. Profits rising every year
2. A debt free company
3. Presence of FIIs and DIIs, with public decreasing
4. A fundamental score of 6 on 9, which is good on fundamentals.
5. Stock P/E is 16, and its median PE is 18. So, there is an opportunity.
6. Analyst rating is BUY for a TARGET of Rs 900/-
If you go through the investments of FIIs, they started investing in September 2021 quarter.
Since September, the price of Dhanuka has been in a downward consolidation and FIIs are still sitting in it without any returns.
But they might have seen some good opportunity in Dhanuka and are still invested.
Now, there is a breakout in Weekly timeframe, and the stock is consolidating above above its horizontal resistance zone.
We can see a good upmove in coming weeks in DHANUKA
The chart is a Weekly Timeframe analysis of Dhanuka.
We can see some good technical analysis points.
1. We can see a good support of 200 Moving average in Weekly Timeframe.
2. We can notice a Fakeout move in Dhanuka.
3. Dhanuka has broken its resistance trendline too and is consolidating above it.
There is some other reason of selecting this stock too.
Fundamentals of Dhanuka are good.
1. Profits rising every year
2. A debt free company
3. Presence of FIIs and DIIs, with public decreasing
4. A fundamental score of 6 on 9, which is good on fundamentals.
5. Stock P/E is 16, and its median PE is 18. So, there is an opportunity.
6. Analyst rating is BUY for a TARGET of Rs 900/-
If you go through the investments of FIIs, they started investing in September 2021 quarter.
Since September, the price of Dhanuka has been in a downward consolidation and FIIs are still sitting in it without any returns.
But they might have seen some good opportunity in Dhanuka and are still invested.
Now, there is a breakout in Weekly timeframe, and the stock is consolidating above above its horizontal resistance zone.
We can see a good upmove in coming weeks in DHANUKA
Note
It is going very good. You can trail your SL in profit zone.Trade active
Target Remaining by 1 point only. 1:2 RR Trade it was.
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