Phillips Carbon Black can be bought above Rs.215 for targets of ~Rs.270. The Stock is an indirect beneficiary of the auto sector as Carbon Black is primarily used in Tyres. The stock is cyclical in nature and therefore, one should always follow technicals.
Stock is in a major uptrend. It's been consolidation in a tight trading range in the past few weeks. Price action in the past few days has been constructive and the rally today is promising. A breakout past the high of the range, backed by higher volume will be interesting.
I bought this stock today. Would add more on a breakout. Watch this one !!