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INDORAMA

INDORAMA- 60% Potential Stock In The Short TermINDORAMA Looks good to me above 60 with 50 as sl. It has a potential to test 100 in the short term. Reasons - A Good Impulse from 8.25 till 90.8 then a healthy correction with volume decrease which suggests a profit booking only. And from the recent bottom volumes have started to pick up again. Planned the long on swing breakout above 60. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:INDORAMALong
by Omahto
Indorama Synthetics - fresh breakout after retest+consolidation After spending most of 2021 consolidating between 45-60, Indorama Synthetics finally broke above 60 in early January 2022. It managed to briefly breach 90 before correcting heavily due to the war. In the current correction Indorama Synthetics retested the earlier breakout level of 60 which has now acted as a strong support. Post another 4-6 weeks of consolidation Indorama Synthetics has once again cleared the all important weekly resistance of ~73 (red dotted line) on a closing basis. The move is supported by large volumes esp if one looks at the daily chart. The stock should do well in the short to medium term and any weekly close above 85 will greatly add to the upside momentum. Indorama Synthetics can be bought at CMP and on declines to 72 SL : 67-68 Tgt: 84-85 is the preliminary target. Once this is taken out we can easily look for 100+ levels
NSE:INDORAMALong
by drupadk