BUY - Bodal ChemicalVery good trend change seen on chart
Long Term down trend line broken
Head and Shoulder pattern formed at the bottom
Buy for targets - 90/100/ higher
BODALCHEM trade ideas
Bodal seems to be forming Invrtes Head & shoulderstock has been in a downtrend and now 2 troughs are complete and 3rd one may get completes soon.
worth keeping in watchlist for swing trade.
Height of Head = 50 points.
buy above 86
Look for BreakoutBodal chemical trading in down trend channel, look for strong breakout on weekly charts with volume for Long.
Trade Activate after box berakout For Education only first target 89.5 & second 105 Stop loss 73 trade activate after box breakout
Bodal Chemical Strong support at 74.70.Bodal Chemical witnessing strong support @ 74.70. it will spend some time in 75 - 78 price for another 2 days, and It take flight to 95 after breaking out 88 high price in Feb 2020.
First Target 95, 102,109,125.
Buy Bodal Chemical with stop loss of 50 for target of 59 to 62Bodal chemical looks good to buy at this position with stop loss of 50 for target of 59 to 62 and once it crossed 67 will review once again.
SMALL CAP BODALCHEMAll explained in the chart
Check the NIIT TECH analysis to see the about stop loss and trailing stop loss
BODAL CHEMICAL - AT CRUITAL LEVELSBODAL CHEMICAL - CRUITAL LEVELS
Script is currently trading at cruital levels, medium term moving average (50) is just kissed longterm (200) moving average, any further correction may lead to breaking of long term support. This can make long term investor to exit. some level identified ( lvls in chart). Strickly no action if it goes below 70
Bodalsome resistance around 118-122 zone.. should correct a bit before exploding. long way to go.. this could be big in the making.
Consolidation likely to continueConsolidation likely to continue for the next week but the stock should find 2/1 support at around 117. Once it rebounds, we may even see a level of 200 in medium term
Bullish above 135.50The descent will be arrested if the stock manages to close above 135.50 tomorrow. If it remains bullish consistently, a level of 202 can be seen in medium term with occassional hiccups. Stop loss 116
BODALCHEM day chart studyBODALCHEM has formed a double bottom with hidden bullish divergence. We shall wait for the trendline breakout confirmation before going long.
