IOL has broken out today. Subject to closing above 222 today and it remaining bullish, intermedite target will be 375-400 in intermediate term. There is no barrier in between as per my opinion.
Presently it is holding support and if it continues to do so with some bullishness, so that it crosses 200 by June end, then a fresh break out can be seen
Resistance at 209. If the resistance is crossed and the stock remains bullish, I expect an intermediate target of 329 in intermediate term. Support is at 169.
225 is the resistance here! closing above will open the door for a target of 320ish level. 170 is next support. so 170 is best time to buy if it comes close to it. closing below 163 will create huge downfall like no tomorrow as it will form a double top!
IOL Chemicals and Pharmaceuticals Limited is a pharmaceutical company. The Company is engaged in manufacturing and selling of organic chemicals and bulk drugs. It caters to both domestic and international markets. It operates through two segments: Chemicals and Drugs. The Chemicals segment produces and sells acetic anhydride, acetyl chloride, mono chloro acetic acid and iso butyl benzene. The Drugs segment produces and sells various active pharmaceutical ingredients (APIs), such as ibuprofen and metformin. Its operations include Bulk Drugs APIs and specialty industrial organic chemicals. Its APIs division includes manufacturing of Bulk Drugs, such as anti-inflammatory and anti-diabetic. Its Specialty Industrial Organic Chemicals division produces ethyl acetate from organic alcohol for use in a range of end products in markets, such as flexible packaging, pharmaceuticals, food processing, pesticides and paint industries. Its manufacturing facility is located in Barnala, Punjab.
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IOLCP
