HSCL Trading Above Fresh Weekly Demand ZoneHSCL is currently trading at ₹481.15, slightly above its demand zone between ₹475.4 and ₹441.1, identified on 23rd August 2024. This fresh zone has not been tested, suggesting potential buying interest if the stock revisits this range. Investors may watch for a pullback to these levels, which could present a buying opportunity with strong support.
Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment or trading decisions.
Himadrispeciality
Bullish on Himadri Speciality Chemical for Short TermThe stock hit a fresh 52-week high of 108.85 on 6th Dec 2022, but failed to hold on to the momentum and falling about 17%.It bounced back after hitting a low of 80.35 in 27th Feb 2023 on the daily charts.A double-bottom pattern on the daily charts makes it an attractive buy.
It gave a breakout from wedge pattern on 10.03.23 rising 3.17%. It then corrected by 2.09% the succeeding day. Today i.e. on 14.03.2023 it rose 1.4% to 90.40 and closed above the resistance trendline again.
In terms of price action, the stock is trading well above most of the short-term moving averages. But it is hovering just below its 50 and 200 day MA of 90.85 & 90.95 respectively.
RSI is above 50 and MACD is above its center and signal line, this is a bullish indication.
Based on these technical indicators, it is expected that the stock's price will continue to rise towards the assigned targets, with a recommended stop loss at 88 on a closing basis.
Himadri Speciality forming probable flag and pole patternHimadri Speciality is forming flag & pole Pattern in a daily chart frame.
If today's candle close above 88 range, then we can see a clear breakout and it should confirmed by next day candle.
After this breakout stock will test 93 range first, once it break 94 range, it has a potential to reach 112 range as per the pattern.
Ideal SL will be below 78.
Wait for supply zone breakout for the confirmation.
This is just a View, not recommendation to trade, do your own analysis before taking any trade.
NSE:HSCL
HSCL - Weekly Breakout above 2 years congestion area - Target 85Scrip: Himadri Specialty Chemical Ltd (HSCL).
Setup: Weekly Breakout above 2 years range
Call: Buy
Entry: 60-67
Stoploss: This is a positional and investment call for a few months. Stoploss needs to be determined as per risk profile.
In case of a market crash, more positions can be added at lower levels in the range of 40-45.
Target 1 - 85
Target 2 - 105
Timeline - Few Months.
Valuations: Price to BV - 1.53 (Book Value - 43.5)
This is a small cap company and with a bit of risk involved. Please trade and invest based on your due diligence and risk profile.
I am not a SEBI registered analyst, please trade and invest based on your own research and analysis.
Himadri Speciality Chemicals-Trend Change BreakoutHimadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. It is the No.1 coal pitch manufacturer in India and is the only company to manufacture advanced carbon material in India. It is also the largest player of Naphthalene and SNF in India.
Manufacturing Capabilities
Capacity :-
Coal Tar Distillation - 5,00,000 MTPA
Carbon Black - 120,000 MTPA
Specialty Carbon Black - 60,000 MTPA
SNF - 68,000 MTPA
HSCL Cup and Handle formation about to break out.HSCL has been consolidating since the last 2 years in the range of Rs 40 to 63. It seems to have formed a Cup and Handle pattern which will break out above Rs 63.
The actual rally will start after breaking the rectangular channel resistance at 63 and will then reach to the above mentioned long term targets .
The technical indicators seem to have bottomed out on monthly time frame and have turned bullish on daily and weekly time frames.
This is totally an EV (Electric Vehicles) play before the current budget is presented.
This chart is only for information purposes and it is not an investment advice.
#HSCL... Morning Star pattern .. swing trade ideaHSCL is forming morning star pattern on the daily chart..
Ofcourse half the trading session is left and confirmation only will come after today's closing..
But keep an eye..can be easy 20% short term profit here
HSCL also has multibagger potential.. see my previous ideas in related links section