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SUMITOMO CHEMICAL INDIA LIMITESUMITOMO CHEMICAL INDIA LIMITESUMITOMO CHEMICAL INDIA LIMITE

SUMITOMO CHEMICAL INDIA LIMITE

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SUMICHEM trade ideas

SUMICHEM - Bullish Swing ReversalNSE: SUMICHEM is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 13% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:SUMICHEMLong
by BrahmaBull31
Range StockThe price Chart clearly says a lot itself. The price action is something that always works. This is a classical example of how a VERY simple analysis is enough in the market to become profitable. This time again it has given an opportunity and made a BULLISH PIN BAR at the support of this range which shows price is reacting to this level and that there is DEMAND or BUYERS available at the Support. ENTRY can be made either at the same place(445) for aggressive trading or when it will cross this candle's high with next week candle. Stop Loss - if give a Closing below same Candle or whenever it close below trendline. Reward/Target - Around last swing i.e 535-550 or at when it touches resistance line. **Position Sizing needs to be very accurate, it keeps trading psychology under control. (Position Sizing ideally should be calculated keeping in mind the Stop loss. Suppose You are ready to loose 2000 rupees on one trade and the SL is 20 rupees then ideal Position Sizing would be 100 Shares. )
NSE:SUMICHEM
by rohitbansal1212
2
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