Indo Borax & Chemical Ltd. has recently broken out cleanly from a descending trendline. The Fibonacci retracement levels provide clear targets for the upcoming price action, making this an interesting setup.
Technical Analysis:
Descending Trendline Breakout: The stock has decisively broken out from a descending trendline, indicating a shift in momentum from...
Indo Borax & Chemicals Ltd | A Momentum Stock
was incorporated in the year 1980 in Asangaon and its first Boric Acid plant was established in the year 1981, followed by the establishment of a Borax plant in 1983.
Fundamentals: excellent
Market Cap =₹ 604 Cr. ROCE = 28.7 % ROE = 21.0 % Debt to equity =0.0
Promoter holding =52.1 % Quick...
-Price breakout 187 and with volume
-The price is two times breakout and also retest with a healthy trend
-Target 1 is 250, and 2nd target is 360
-Can add in dips also near 170 if it comes.
-This is a swing trade
Chart Looking For Breakout
Breakout level 200
Hold it With Target of 220
240-260-280
it is also doing breakout From 2.5 year that is Good level for enter
![INDOBORAX: INDOBORAX Long [Swing Trade]](https://s3.tradingview.com/8/8qbwVMha_mid.png "INDOBORAX Long [Swing Trade]")
