Chemcon Speciality Chemicals | CHART#15

CSCL, is a Vadodara, Gujarat based company incorporated in 1988, involved in manufacture of Pharmaceutical intermediates and Oilfield Chemicals. Chemcon specialty chemicals limited is the only manufacturer of HMDS (Hexamethyldisilazane / Hexamethyldisilane) in India & 3rd largest manufacturer of HMDS Worldwide. Chemcon has share of >10% in global market.

*Stock Analysis*
-- CSCL has been on consolidation since its IPO on October 2020. Now it has made second attempt to break primary resistance at 470 levels.
-- Good Volume confirmation
-- Once it touch take support at 470 levels the next target will be 510 and then to 625 levels.
-- Moving average(10, 50) has good divergence.

*Important Levels to Watch*
-- Entry @ 470
-- Target @ 625
-- SL @ 468 and after breakout put trailing SL

Note : India's specialty chemicals market to grow to $40 billion by 2025: McKinsey

Good Luck Investors❗
Trade active: Target 1 achieved @ 510
Comment: SL Hit Reason : Panic selling due to Global Cues. Short term/ Long Term traders can hold on to the stock. Will surely rebound.
Comment: Can enter the stock at 435 levels which is a good demand zone
Comment: Short term traders can exit the stock near 510 levels as retracement may happen. Mid to Long term traders can hold on for achieving 625 levels of target
Trade active: Again the target of 510 achieved😎
Comment: Stock tanked 3.13% today facing stiff resistance at 510 levels. If it slips to 460 levels re-entry is possible at Swing low levels (450 - 460)

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