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Sumitomo

Trend Support - Key LevelSumitomo chemicals is an leading company in Indian Chemicals sector. The quarterly earnings of the company were strong, but due to short term regulatory changes, the share saw a downfall. One of its chemicals ~ 15% revenue had its usage restricted, but the management expects these headwinds to ease in the mid to long run. Overall valuations seem attractive, sound fundamentals and with the growth in the entire chemicals space, the company is bound to benefit. I will be interesting to see how longer can the market keep up its bearish pressure despite good quarterly numbers. I am expecting a maximum drawdown to 450, and good bounce after that. Not an Investment Advice, only for educational purpose.
NSE:SUMICHEMLong
by Aayush_Rungta
Target 1 (9%) achieved in Sumitomo Chemical. Target 2 is ON...This is follow-up on Sumitomo Chemical. Can check link to related ideas. Target 1 achieved. More than 9%. Target 2 is ON. Can give big move once price close above purple trend line . Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SUMICHEMLong
by MandeepSinghKohli
1
Flag and pole pattern?CHART -> SUMITOMO CHEMICAL WEEKLY SETUP As seen per charts, there are few things to note: 1. In weekly time frame, it has given a beautiful flag and pole breakout. 2. Last breakout candle has been with marginally better volume. 3. RSI has gone above 60. 4. MACD crossover during breakout candle. Targets: 1. All Time High: 460 2. Flag and Pole target: 540 Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
NSE:SUMICHEMLong
by kathanthakkar403
Flag and pole pattern in SumiChem?CHART -> Sumitomo Chemical WEEKLY SETUP As seen per chart, it looks like Sumitomo Chemical is trading under a flag and pole pattern. Any side of the trendline breakout, may it be on the upper or lower, will decide the further path of the stock. For breakout it has to cut the trendline on a weekly close candle. As per today's scenario a morning star, which is bullish reversal pattern is forming on the chart. If price sustain around 380-385 or higher than that upto this coming Friday, we may see strength in coming weeks. Also as per today RSI has also gave a breakout, showing strength of bulls. Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
NSE:SUMICHEM
by kathanthakkar403