PRIVI SPECIALITY CHEMICALS LIM
2,479.70INRD
+29.90+1.22%
At close at Jul 25, 11:12 GMT
INR
No trades
PRIVISCL trade ideas
PRIVI is ready for a ride ?Privi is breaking out of the resistance zone, and it broke out from the Inverted head and shoulder pattern as well. 2250, 2400 levels might act as resistance zones based on the pattern.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.
Happy Trading
Breakout stocks: Greaves Cotton Privi Specialty Century TextileChart Analysis of Greaves Cotton Privi Specialty Century Textile
Greaves cotton has given a multiyear breakout. After 6 year stock is crossing the level of 185
Inverse head and shoulder breakout in Privi speciality
Century Textile heading towards 52 w high
A Staircase, to growth and to profitsHow often do we find a stock chart that's constructing a complete staircase, adding consolidation and rise block by block, creating umpteen supports and in turn giving out a structure that's firm,robust and astound !!
On its upward journey in last six odd months this stock of Privy has created a wonderful view on the charts (the referred to time-frame is weekly) consolidating, breaking out, rising again consolidating, breaking out, rising and so on. And just now it has taken an all important support on a very crucial rising trend-line at 1890
now if it has to follow the pattern it has been following for last six months then it would consolidate over here and then would give a breakout and if it succeeds to through pass a confluence point at about 1972, then another biggish breakout cant be denied
One can try and ride this, but don't forget to put a strict SL at 1800 and ofc, DYOR !!
PRIVI SPECIALITY : PRICE & VOLUME SUPPORTING NICE CHART PATTERN - TREND IS UP
Buy@CMP
TGT - 2040 $ 2100
Disclaimer
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
PRIVI PRIVISCLNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
This specialty chemical stock has given a price volume breakout The share price of Privi Specialty Chemicals rose by more than 7 per cent on Thursday with a spike in volume. The volume spurt of more than 2.5 times was seen on NSE and BSE in shares of Privi Specialty Chemicals.
Privi Speciality Chemicals Limited is India’s leading manufacturer, supplier, and exporter of aroma and fragrance chemicals and a globally trusted partner and supplier of bulk aroma chemicals.
The company has delivered good profit growth of 55.42 per cent CAGR over last 5 years while the company's median sales growth is 22.21 per cent for the last 10 years.
The breakout of the triangle pattern and 78.60% Fibonacci retracement level has been done.
What can a swing trader do now ?
There are four ways in which one can trade this stock.
They are as follows :
1) Take a trade right away on Monday opening.With 8% stop loss and with first target of 8% and then for the target of 16%.The risk that you will carry here is 8% which is slightly higher.
2) Take a trade on retest of the breakout trend line ' if it retests ' or leave the stock without trading if it gives another big move again.
3) As it has already registered a big mover candle of 7.5% you can wait for a consolidation at same levels for few trading sessions and take a trade on the breakout of the smaller time frames like the 15 minutes.Here your chances of loosing will be low and thus even your risk would be low.
4) Add only 30-40% of the quantity out of the 100% quantity that you would trade on Monday with stop loss of 8% and add remaining quantities ' if and only ' it consolidates and gives a breakout on the smaller time frames.
The first profit booking area will be at the levels of 1935-1955 and then you can wait for the creation of new highs as it has been doing the same in the past.But the stock might find resistance at the levels of 1990-2015 as it is a psychological profit booking area.
This post is only for educational purpose and not a call.Trade the stock only if it falls as per your risk-reward setup.
FY21-22 Swing Trade Idea #14 : Long on PRIVISCL This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.