Deepak Nitrite Shares: Will A Break Above ₹1,800 Fuel A Rally?

The analyst said that the stock is consolidating within a range, with strong support near ₹1,658 and upside targets of up to ₹2,155 if it breaks past the resistance.
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Representative Image: Getty Images
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Deepti Sri·Stocktwits
Updated Mar 05, 2026   |   2:29 PM EST
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Shares of Deepak Nitrite traded lower on Wednesday, weeks after the company reported weaker quarterly earnings, with the stock consolidating below resistance levels.

Technical View

SEBI-registered analyst Krishna Pathak said the stock is trading in a range, facing resistance near ₹1,800 and holding strong support around ₹1,658. 

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He noted that the 9-week exponential moving average (EMA) at ₹1,800 is acting as a resistance level.

He highlighted an add-on accumulation opportunity in the ₹1,700–₹1,720 zone, where past buying interest was visible. Pathak noted that Deepak Nitrite’s stock is hovering close to a major support level, a zone that could set the stage for a shift from a downtrend to an uptrend. 

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He said a clear move above ₹1,800 might open the door to upside targets of ₹1,980, ₹2,071, and ₹2,155, but warned that slipping below ₹1,580 could trigger a deeper correction.

Q1 Print

The company’s latest results showed pressure on both revenue and profitability. Net profit declined 44.6% to ₹112 crore from ₹202.5 crore in the same period last year. Revenue too dropped 12.8% to ₹1,889.8 crore from ₹2,166.8 crore on the back of weak demand and pricing pressure across most of its businesses.

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Operating performance also weakened. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter were down 38.8% to ₹189.3 crore from ₹309.4 crore, and the margin contracted to 10% from 14.3%.

Results for both the core segments saw deterioration. Revenue from Advanced Intermediates fell 15% at ₹605.3 crore, and EBIT tumbled 47% to ₹35.5 crore. In the Phenolics division, revenue decreased 11% to ₹1,304 crore, and EBIT fell 43% to ₹117.9 crore.

What Is The Retail Mood?

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On Stocktwits, retail sentiment was ‘neutral’ amid ‘normal’ message volume.

Deepak Nitrate’s stock has declined nearly 30% so far in 2025.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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