GokulHari

Chemcon Speciality Chemicals | CHART#15

Long
NSE:CHEMCON   CHEMCON SPECIAL CHEM LTD
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❗
-GokulHari
Trade active: Target 1 achieved @ 510

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