Inverse head & shoulders pattern
Buy at CMP- 243 or at 236
Target- 254, 268
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Looks good to buy above 239 for target of 280 with stop-loss of around 220 or according to your risk appetite.
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Reason for position:
Taken support on 200 Moving average
taken support on previous low line
triangle Trend line break
Entry : CMP or 235
target : 276 or 15%
Stoploss : 226 or 4.5%
Phillips Carbon Black Limited , a part of RP-Sanjiv Goenka Group, was set up by Mr. K. P. Goenka in 1960 in collaboration with Phillips Petroleum Company, USA, with the core objective of substitution of the import of carbon black. PCBL is the largest carbon black manufacturer in India and a strong global player with a significant customer base in 40+ countries....