IOLCP trade ideas
IOL Chemical hovering within range..Can breakout and breakdown.. Waiting for it to close above 700 levels for an entry
IOL Chemical and Pharmaceuticals still in a range...THe stock is trading at 646.75 and is within a triangle pattern.RSI is still below 65 although rising gradually. The stock is gradually moving up in a channel and will move upwards once it crosses 681 levels. So just watch out !!
IOLCP at crucial levels! | CHART#18IOL Chemicals & Pharmaceuticals Ltd. engages in the manufacture of organic and inorganic chemical compounds. It operates through two segments: Chemicals and Drugs. The Chemical segment produces and sells ethyl acetate, iso butyl benzene, acetyl chloride, and mono chloro acetic acid. The Drug segment offers a various active pharmaceutical ingredients such as ibuprofen, metformin, fenofi brate, and lemotrigine.
*Stock Analysis*
Stock has been flowing inside a descending channel (Yellow) after reaching its peak at 898.90 levels.
Sub channel has been formed inside this channel which is of opposite nature (Violet) with above average volume which indicates potential buyers around this region.
Sub channel lost its upward momentum on touching the main channel at 725 levels thus retracing to 600 levels and probably took support at trendline.
Volume spike is seen at 600 levels, RSI pointing upwards so we can establish 600 levels as Demand/Buying Zone.
Once its enters the channel (Violet), upward travel starts to 725 and 790 levels.
Coming to the fundamentals - IOLCP is a fundamentally strong company which has its roots in chemical industry.
It has a CAGR of 67%, ROE track record of 51.94% and its a Debt free company.
P/E ratio is nearly 8.54 which is less than Industrial average due to consistent increase in Earnings.
*Important Levels to Watch*
-- Entry @ above 670 levels on support
-- Target @ 725 | 790
-- SL @ 525
Notes :
FII has reduced the stake from 7.7% to 5.9% YoY. Major stake(50%) is with public. So stock can be affected by news based panic selling
India's specialty chemicals market to grow to $40 billion by 2025: McKinsey
▢ Feel free to suggest your view on this as learning is earning here.
▢ Drop a follow here😉 @GokulHari
Happy Trading :)
-- GokulHari
❗❗ Disclosure : I am not a SEBI registered analyst. The information provided here is for education purposes only. I will not be responsible for any of your profit/loss with this suggestions. Consult your financial advisor or do your own analysis before taking any decision ❗❗
#iolcp #positional buy#pattern breakout. #bullish vie.
#Buy Iolcp for the targets and Sl mentioned in chart
Short Term pick up ✌✌✌This scrip is forming triangle pattern in weekly Time Frame and it is expected to give Breakout. So traders keep on your radar to catch the momentum and Enjoy the profit.
8% Up move in IOLCP..!Fresh Volume in IOLCP, when you're sure about the fundamentals then you can hold with conviction.
Let's see how it will performs!
Disclosure: Invested.
My swing picksBreak out parallel channel and retesting the supply zone , today formed a engulfing candle it's a bullish signal
IOLCP ! Good Gain Expected From here !Support Retest! Multiple Support! ALl details available in chart
iolcpthe stock was in uptrend and than consolidating in symmetrical triangle pattern given a breakout from it and now retest of breakout
IOLCP - Bullish - LT ViewThe trend has been broken and now retesting the trend line. A good level to buy to ride the trend.
Keep note of the stop loss mentioned in the chart.
Happy trading :)
IOLCP Trend AnalysisIolcp has been in a downtrend for a while and it witnessed a trend reversal few weeks before, it made a high at 726 and saw a rejection to take support at 643 in today's session, it may rise stronger as it's a strong level, a deeper stoploss and targets are mentioned in the chart.
IOLCP LtdIOLCP retested BO
CMP 658
Target 850++
As the Company Balance sheet is strong
Accumulate krte rehna
IOLCP.. Breakout & Retest!It has shown a breakout with good volume.
Possible short term target (in 6months) is 900
For better safety wait for a couple days to see if Breakout sustains.
Disclosure: Freshly entered today
