#1 BULLISH BAT formation.
#2 traded at Fib Retracement 0.618
#3 Technical Parameters Favours to LONG.
The industry has witnessed accommodative and bracing policy initiatives including amicable FDI
regulation (100% through direct route), reduction in excise duty from 14% to 10%, increasing share in
planned expenditure budget and stronger anti-dumping laws.
As a result, the chemical industry has
been sharing 4%+ in the total FDI in the country.
GST impact: Under the GST regime, the chemicals sector has been included in 18% bracket versus
the effective tax rate of 24-26% earlier, a major push for the sector.
Also the logistics cost for the chemical industry is set to fall by 10 -11% post the implementation of GST .
TGTs & Accumulation Levels Plotted in Chart.
Study Purpose Only.
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