Free Intraday Trading Tips and calls for today and tomorrow

Hope you all enjoying our recent intraday picks and short term stock analysis which we posted in our Telegram channel (https://telegram.me/safetrader90). Today we are back with a new Breakout stock pick Donear Industries Ltd (NSE: DONEAR). We will look in to the latest chart analysis and upcoming targets for intraday, short-term and long term investment. Lets jump in to latest chart Analysis and recent performance of this stock.

Donear Industries Ltd Recent Performance and Price Movement

Donear Industries has experienced a strong upward trend over the past few months. The stock recorded a substantial 29% gain in June, followed by a moderate 3.5% increase in July. These price movements indicate sustained investor confidence, likely driven by the company's impressive financial results.

On July 1, 2024, Donear Industries announced its Q4 results, revealing a 13.39% increase in topline revenue and a staggering 86.5% year-over-year (YoY) growth in net profit. Quarter-over-quarter (QoQ), revenue grew by 17.56%, while profit surged by 122.54%. Operating income also saw a significant increase of 69.73% QoQ and 48.28% YoY. The company reported an EPS of ₹3.06 for Q4, marking an 86.67% YoY increase. Additionally, selling, general & administrative expenses declined by 5.82% QoQ and decreased by 0.42% YoY, showcasing improved operational efficiency.

The financial results and favorable market sentiment have bolstered Donear Industries' stock price, pushing it closer to its 52-week high of ₹153. The stock’s performance over the past month indicates a consolidation phase, with potential for further gains as the market digests the recent financial data.

Latest Chart Analysis for Donear Industries Ltd

Analyzing the weekly chart of Donear Industries, the stock is approaching a critical resistance level at ₹153, its 52-week high. The chart shows a strong uptrend, with the stock forming higher highs and higher lows over the past several weeks. So Above 153 price  levels we can consider as a breakout on this stock.

Latest Support and Resistance Levels:

• Current Support: The stock has strong support at ₹135
• Resistance Levels: The immediate resistance is at ₹153, and a breakout above this level could trigger further upside momentum.
• Upcoming Targets: If the stock successfully breaks out above ₹153, the next targets are ₹156, ₹163, and ₹170.

Entry Levels:

• Breakout Entry: Investors can consider entering near the price levels, around ₹153, in anticipation of a breakout.
• Conservative Entry: A safer entry would be closer to the support level of ₹135, with a stop-loss below this level.

Conclusion

Donear Industries Ltd gives opportunity for investors, with strong financials and promising technical indicators. The entry levels and target points given above provide a clear roadmap for those looking to buy on this stock’s Breakout Level. Traders should monitor the key levels discussed and consider their risk tolerance when making investment decisions. For real-time updates and more insights, follow our Telegram channel at SafeTrader90.