Fineotex Chemicals Ltd is engaged in the business of manufacturing auxiliaries and specialty chemicals for textiles, construction, water treatment, fertilizer, leather, and paint industries.
-All Time high Revenue And net Profit
Good financial
target- 400, 450
Sl -320
I will buy FCL because :
The price is forming a Ascending Triangle Pattern.
The price has broken the resistance.
The price is in Uptrend and has been forming good Volumes.
Entry : 187
Target : 220/250
Stop loss : 172
FINEOTEX CHEMICAL as per daily chart analysis stock above 166 for a Target 170. Resistance at 172.
27.01.2022 Being Monthly expiry day
Nifty Above 17325 than Resistance at 17420 / 17550
Nifty Below 17183 than Support at 16980 / 16934
FCL has Given a Multiyear Breakout this week supported with Good Volumes .There is a further possibility of getting huge returns.
Entry can be done in staggered way with a Time horizon of 9-15 months for good returns with a stoploss of Breakout levels.
FCL looking bullish in weekly timeframe, it has broken a long old resistance zone, can see good volume pumping in , can go for a long positional tarde
entry 108.65
stop 93.00
target 140
cmp 116.40
Fineotecx Chemical (FCL)
- Stock is mildly Bullish
- Travelling in a channel.
- As long as inside the channel it will move upward.
- As per MACD indicator, there are chances of breaking out the channel. So, better to watchful for couple of days (from 15th June 2021)
- Stock is 3.55x as volatile as Nifty. So risk is high. Be careful.
CMP: 92.6
Buy...
![FCL: FCL LONG [ Multiyear resistance zone breakout]](https://s3.tradingview.com/l/Lww0rxUe_mid.png "FCL LONG [ Multiyear resistance zone breakout]")
