Very good structure
Good volume in uptrend and volumes drying up during downtrend/ consolidation
Buy at CMP or wait for candle close
Support near 635-600
weak below 600
Market Cap-- ₹ 2,361 Cr
Stock P/E-- 12.5
ROCE-- 11.5 %
ROE-- 13.9 %
Free float only-- 37%
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India Glycol has been outperforming nifty and looks strong in the coming weeks also.
The stock went into forming VCP and now taking some breath and forming a Flag pattern on the daily time frame. If breaks 740 levels it is good to go for another 40% ride.
* This stock now ready for fly, after breakout now pullback completed and now bounce from its important support level . Thats why i am bullish in this stock .
Kindly Let us know if you have any question .
Trading possibilities for Coming days.
This stock has shown weakness consistently over the last few days and today also it closed low. It still has bearish Momentum left and can go further down. You can trade this for intraday and also for few days in the coming week.
Look for selling at the levels marked in red and / or whenever you see a Bearish candle pattern...