Chemplast may see a upward trendMACD crossover has happended followed by a positive divergence.
Upward moves can be seen toward 481/541
CHEMPLASTS trade ideas
CHEMPLAST SANMAR - Rounding bottom with fresh volumesRounding bottom with fresh volumes.
Targets(T1, T2 & T3) mentioned along with expected time frames. Stop loss marked as SL. Can achieve better targets, should carry trailing stop loss once in good gains.
Also keep tracking quarterly results to monitor performance.
Phase 2 Uptrend !! Invest !!🟢Its trading near IPO price. RSI(W/M/D) is looking promising.
🟢1W charts indicate capitulation and trend reversal near 534.
🟢Momentum invest trend follower given buy signal in W chart.
🟢Invest in CHEMPLASTS @546. Add on decline @465/430 SL=413(W)
Chemplast Sanmar Ltd (CHEMPLAST) Surges: Breaking Key ResistanceAnalysis Report:
Chemplast Sanmar Ltd (CHEMPLAST) Analysis - June 15, 2024
Chemplast Sanmar Ltd (NSE: CHEMPLAST) has demonstrated a significant upward movement, closing at ₹621.50, up by 11.81% in the latest trading session. The stock opened at ₹562.75 and reached a high of ₹633.70 before settling at ₹621.50. This bullish momentum is supported by a notable volume of 6.606 million, indicating strong investor interest.
Key Technical Levels
Support Levels:
412.25 INR: This level has served as a strong support, holding the price during multiple downtrends since late 2021.
520.45 INR: Previously a resistance, now turned support, this level will be crucial in sustaining the current bullish momentum.
Resistance Levels:
550 INR: A minor resistance that was breached in the recent surge.
650 INR: The next potential resistance level, observed during the highs of early 2022.
Market Sentiment
The market sentiment appears highly bullish, driven by the recent breakout and strong volume. The sustained upward movement past the 520.45 INR resistance level suggests a potential trend reversal from the consolidation phase witnessed throughout 2023 and early 2024.
Trading Strategy
Bullish Scenario: If the stock sustains above 550 INR, it may continue to test the next resistance at 650 INR. Traders might consider buying on dips towards the new support level of 520.45 INR with a target of 650 INR.
Bearish Scenario: If the stock fails to hold above the 520.45 INR support, it could retest lower support levels at 412.25 INR.
Conclusion
Chemplast Sanmar Ltd is showing strong bullish momentum with the recent breakout past key resistance levels. Traders should watch the volume and price action closely to confirm the sustainability of this upward movement. As always, manage risk appropriately and consider market conditions.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research or consult with a financial advisor before making investment decisions.
chemplastgood volumes seen here and weekly structure also very strong if its able to cross the resistance zone it can gain momentum for 800 and greater targets
Amazing breakout on Weekly / Daily Timeframe - CHEMPLASTSCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN Daily TIMEFRAME.
PS: No new Nifty500 script can escape from me when making a breakout. :-)
CHEMPLASTSTriangle formation done in CHEMPLASTS
above 520 it may give good upside of 50%
RR ratio is at 1:3
30% upside potential in CHEMPLASTSAs the chemical industry experiences a resurgence, CHEMPLASTS has emerged as a stock garnering significant attention from mutual funds. Non-institutional holdings have decreased from 10.93% to 6.48%, while the stock has shown relatively modest returns. Currently, a Cup with Handle (CWH) pattern is taking shape, with its neckline undergoing testing. This stage suggests a potential 30% upside from the current position.
chemplastchemplast showing signs of upmove with sl at 440 on closing basis looking forward target 1 and 2
ChemPlast SunmarVery positive indications on technical grounds
Price is above 20-50 SMA on daily weekly
abv 20 on Monthly
Indicator in buy on daily-weekly & monthly
Buy on dips
Go long
Inverted Head & Shoulder BO in ChemplastBreakout of Inverted Head & Shoulder completed on Daily Time Frame.
Long Position can be initiated.
Stop Loss for the Long Position will be 475 on Weekly Closing Basis.
WEEKLY TRENDLINE SUPPORTStock is taking weekly trendline support we can make a position with a small stop loss just below the low of the candle.
CHEMPLASTS H&S PATTERNThis stock formed a H&S pattern and the pattern breakout is done now stock gave correction and starting to move up,so look for buy for the target of 610 at first and then 670
Chemplasts bullish chart target 60024Sep2023
Buy ChemPlasts Between 466-490
SL 412
Target 1: 541
Target 2: 604
Target 3: 668
ChemPlasts has given Classic Head and Shoulder pattern breakout and tested the breakout
Previous lower high broken with Volume
Forming rounding bottom
Chemplast Sanmar LtdCHEMPLASTS - Short-term trade
Trend bullish
Buy above 510 | Tgt 520, 532 | sl 497
It is my view, to trade on your own analysis
FOR LEARNING PURPOSE ONLYTechnical Analysis: Chemplast Sanmar - Falling Wedge Pattern Breakout
Overview:
Chemplast Sanmar (NSE: CHEMPLAST) is displaying a compelling technical setup with a Falling Wedge pattern breakout.
The stock has established itself above a strong supply zone at 490, suggesting a bullish bias.
With a favorable Risk-Reward (R:R) profile, it is poised for an upward trajectory.
Chart Analysis:
Chemplast Sanmar has successfully breached the Falling Wedge pattern, indicating a potential trend reversal.
Notably, the stock is trading above both the critical 200-day Exponential Moving Average (EMA) and the 50-day EMA.
This positive technical stance is further reinforced by substantial trading volumes, reflecting robust investor interest.
Institutional Interest:
The company boasts noteworthy holdings from both Domestic Institutional Investors (DII) and Foreign Institutional Investors (FII).
This institutional support underscores the promising fundamentals and growth prospects of Chemplast Sanmar.
Conclusion:
Chemplast Sanmar presents an enticing opportunity for traders.
The Falling Wedge pattern breakout, combined with the stock's position above the 200 EMA and 50 EMA, suggests a bullish outlook.
With strong technical and fundamental factors aligning, it is worth considering for a potential trade.
Always exercise sound risk management strategies to safeguard your investments.
Disclaimer: This analysis is intended for informational purposes only and should not be construed as financial advice. It is crucial to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
Thank you for your attention.
chemplast sanmarits gaining momentum weekly bo and its seems to be sustaining above that level with 520 sl on closing basis looking for targets 610 ,680 and more with trailing sl
CHEMPLASTSCHEMPLASTS :-Stock has given strong breakout, if comes for retesting, you guys can plan something
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
CHEMPLASTS
Prices have cleared its resistance at 500, and has hence negated its lower top formation.
Weekly RSI has also cleared its Overbought level of 60.
Prices are now likely to test 640 (61.8% FR level).
Bullish outlook remains intact as long as price is above 415, a break of 415 would negate higher top, higher bottom formation.
Chemplasts Ready For Good Move15 months Consolidation breakout with good vol. Indicators like SuperTrend, RS, RSI, MACD in fervor for good upside move near term.
CHEMPLAST ANALYSISGood sales growth and increasing stake of FII can be see in this stock. We can initiate long trade with given SL and swing targets are marked on the charts
Good for medium to long termChart -> Chemplast Sanmar Weekly
Down move, consolidation and breakout for an up move. Classic example!
CMP: 520
Good Range To Buy: 450 to 520
Targets: 685, 825
SL: 415 Weekly Close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Inverted Head and ShoulderCHEMPLASTS showing formation of inverted head and shoulder pattern.
If current weekly candle breaks out with good volume, one can look for long trade.
*** Views are personal. Invest only after careful analysis on your own. ***
