DHAMPUR SUGAR - TRIANGLE BREAKOUT - LONG (LONGTERM)

7 oct 2021

Hi Friends,

Pranam!!!

Today we are going to analysis the Technical analysis of
Dhampur Sugar Mill - DHAMPURSUG.

In Weekly TF:

The Script currently has support at the area of 286.75 and 242.50 &
resistance at 327.05 and 395 (52Week High)



Dynamic Support was below the price range.



Stoch RSI was in 6.41 which was in the oversold range.



MACD was evidence in the downtrend



ATR Volatility was high in Weekly TF



In Daily TF:

The script has currently support at 281.60 and Resistance at 301.85-310.95
and 362.20 - 368.20 and Script has formed in descending triangle pattern and
breakout has happened.



The EMA 200 trend was above the price range and trend of HF was also on bullish.



Dynamic support was flatten.



Stoch RSI was in the range of 75 which is near to over bough range.

MACD was starting to bullish view as flat MACD was occurred.



CPR of Daily was in the narrow CPR and script was trading above the CPR.



ATR Volatility was down in daily TF




In 2HR TF:

EMA200 was Flat which consisted to be accumulation stage breakout of market structure evidence where HH and HL was formed.



The dynamic support and resistance was crossing flat.



Stoch RSI was at 43.57 which was moved from the overbought zone



MACD line of EMA 12 and 26 was flatten for crossing to turn bearish.



CPR was average and its bearish bias and script are trading at the resistance level of the CPR



ATR Volatility was Flat in Weekly 2HR TF



Over Technically Script was currently in bullish for Short term and For Long term the company was very good attractive
price as company P/E was lower than Industry PE and PEG was less than 1.

Short term:

Buy: Any Bullish Sign evidence at FIB Retracement Level at 293-301



SL - Below the entry candle - 1ATR

Target - 309, 324 and 360

Thanks,

Thenali Views.