DEEDEV DAY CHART BASE FORMATION

DEEDEV
Company profile

🔹Dee Development Engineers Ltd. provides prefabricated piping solutions. It operates through piping, power and heavy fabrication segments. The Piping segment engages in the manufacturing of pre-fabricated engineering products, pipe fittings, and piping systems. The Power segment offers biomass-based power generation. The Heavy fabrication segment involves in the manufacturing of wind mill towers.

🔹Listed in July last year then it marked a high in a few days and after that, it went into a strong consolidation showing a Cool off IPO price rise and now it has formed a good base with a view to breakout.
🔹The IPO buyers must have been bore with the move and they are slowly exiting but some smart money is accumulating for another continuation of the up move.
🔹The volume is slowly decreasing on each fall showing sellers exhausting.

The Fundamentals:-
➖The company is making year-on-year growth in revenue and Profits.
➖Recently it has received big orders.

Entry and Other levels are marked on the chart.
Always use stop-loss to avoid unnecessary drawdowns.

Keep Learning,
Happy Trading.