Sumitomo Chemical - Chart of the Month

Mar 31

SUMICHEM showed good price action this month, showcasing strength in this market and looking to continue that further, hence qualifying for my Chart of the Month.

About:
SUMICHEM is one of the leading players in the industry, which has a balanced portfolio of technical and formulation products along with backward integration for some products.
The Company is known for domestic marketing of proprietary products of its Japanese parent, 4005 in agrochemicals, animal nutrition, and environmental health business segments. With the integration of Excel Crop Care Limited, the Company now has a strong portfolio of generics in addition to specialty products and a strong combined marketing network.

Trade Setup:
It crossed major Swing High Levels this Month and is now looking to cross ATH, RSI & MACD Trending Upwards. Buy on DIPS can be done if it consolidates. The Base Formed Will be an Ideal Stop Loss.

Target:
Around 672 Levels can book a partial at the ATH Zones.

Stop Loss:
Entry Candle Low For Swing Traders and Base Marked for Positional Traders.

Mar 31

Note

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.

Apr 2

Trade active

Up 3% Today

Apr 3

Note

Made a High of 579 today

Apr 16

Note

Back up to it's BO Levels