Daily Bullish Flag Pattern BO in HEUBACH COLORANTSIntroduction:
The new Heubach Group brings together two of the industry’s leading color innovators – Heubach and Clariants’s Global Colorants Business. With a tradition of delivering excellence that stretches back over 200 years, the Heubach name is synonymous with innovation, attention to customer needs and reliability in creating colors.
Today’s Heubach is a global industry leader with one of the world’s most complete portfolios of organic, inorganic and anti-corrosive pigments, pigment preparations, dyes and specialty materials for various applications. With a global manufacturing footprint including 19 facilities around the globe, Heubach is committed to a reliable supply of high-quality materials to meet customers demanding production environments. Sustainability is a part of the Heubach DNA.
We deliver industry leading, best-in-class and sustainable color solutions to brighten the lives of our customers, wherever they are.
Analysis
A Bullish Flag and Pole pattern is visible on the Daily chart of $NSE:HEUBACHIND. The Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the price.
MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue.
One can create a fresh position in the scrip near Rs. 515-525 levels with the stoploss of Rs. 500 on Daily closing basis for the following targets 539.45, 557.25, 569.05, 581.15, 602.30 and 319.10.
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The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is subject to change without notice, and I cannot guarantee the accuracy, completeness, or timeliness of the information provided.
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