DEEPAKNTR

Technical View- As observed on the weekly chart, the stock has witnessed strong buying momentum this week and is forming a potential double bottom pattern, indicating signs of a reversal. Technically, the stock is still trading below its short-term 14-day, 55-day, and 200-day EMAs on the weekly chart, while indicators like Parabolic SAR and MACD are suggesting a short-term downtrend. However, on 20th June 2025, the stock made a low of ₹1865, from where continuous buying has been observed, reflecting recovery from lower levels. The weekly candle shows the stock attempting to touch its 14-day EMA. This week, the stock opened at ₹1880, made a low of ₹1873.90, a high of ₹1989.00, and finally closed at ₹1984.60, showing strength near the 14-day EMA zone. Over the last two weeks, the stock has respected the crucial ₹1850 support zone and is currently trading around ₹1985. In my view, as long as the stock holds above ₹1850, long-term positions can be considered with a "buy on dip" strategy. If the stock sustains this recovery, it may soon retest its 200-day EMA, signalling further upside potential in the coming weeks.