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Its having moat business like pidilite,m-seal,dr fixit and others.Its a good short term bet for upside as its again have bounced from its support zone and a good demand comes in at that level.The SL is CBSL type.
It has been observed on the Weekly chart that the price action breaks above the strong resistance zone of 830-35, which now indicating a new all time high and also shall further move up.
The company has been working well with strong growth, which also eligible for investing.
Pidilite ind CMP 827 has made kind of tripple bottom at 796 which is now acting as strong support for a long trade . One can go long in the range of 805-812 ;Target upto one's risk appetite whoever wants to run their position. i see 865/872 for the stock if it breaks out .
Broken out of temporary rectangular range. Good volume buildup+MACD+Heiken Ashi bar formation. More importantly, bullish close above range.
Looking at weekly chart look like a clear 5 wave upmove and then corrective A and B complete .. since wave A was 5 wave and wave B( running flat ) looks like 3 wave.. i have a hypothesis that Pidilite is not in a new impulse rather it is still in corrective and may do atleast 600 or below..
Below is the weekly chart
Now, coming to ...
stock is in uptrend
last four days of prices in candle suggests inside day of a big up move
in contraction mode
might see a big range day towards channel resistance soon
Pidilite IND touched suport Line
1)Market leader in this space.
2)Enjoys the monopoly in the chemical business(Adhesives)
2)Expanding consistently and rapidly .
3)sales/growth/profit Numbers are growing @ >20% YoY.
4)Virtually no debt.
Keynote-->Its a good stock that can be accumulated at every dip.
Positive News-->Axis Mutual Fund bought 60Lakh shares on 24th Jan'2017 (Source ...