Buy above 612 for target of 703-790
SL around 555 or according to your risk appetite.
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
Sudarshan has specialized in colors and chemicals for over 60 years and has acquired a strong position in pigments and agro chemicals in India and worldwide. With over 35% market share they are the largest pigment supplier, among both Indian and MNC's.
Technically Breakout of Pole n flag pattern
Buy at cmp 740
Add on dips till 710
SL 670 on...
1. Bullish market structure - HH, HL
2. Massive volume expansion
3. Moving in a Pennant. Completing the Bull flag.
4. Currently at a major resistance zone
5. Close above 720 will trigger a good rally
6. Target: 791, 870. Stop Loss: 640
I have made an illustration on the left-hand side, to explain the bull flag/flag & pole pattern.
Sudarshan chemicals coming out of a long terms consolidation. Pirce volume action on weekly basis support bullish structure.. Can Sudarshan chemicals be the biggest stock gainer for next one quarter...