Price Action: Evening star at resistance clearly indicates rejection of 52 Weeks high area initial target 2060 ( 20 EMA as resistance ) if that breaks then next target 2010
Market Pandiths giving buy signals to retailers to provide exit route for big players on 52 weeks high levels
Vinat Organics could retrace to 660 levels, if the corrections are sharp.
If this going to be a complex correction, it would be stuck in a channel and stay put for years.
Yellow: Pin bar wick range broken with strength on down side
This confirms the direction unless red range of
strength candle is cancelled by a green candle
Wave (5) in progress
CCI(M) crosses 100
Top is not confirmed as only one strength candle appeared
M close > 1043 and high >1125 will be ATH breakout
Target 1353 / 1494 / 1722
SL 664.90 Wave (1)
Vinati Organics Limited is engaged in the manufacture of organic and inorganic chemical compounds nitrogenous energetic compounds (n.e.c.). The Company is engaged in manufacturing of specialty organic intermediates and monomers, such as Isobutyl Benzene (IBB), 2 Acrylamido 2Methylpropane Sulfonic Acid (ATBS), Sodium Salt of 2 Acrylamido 2Methylpropane Sulfonic Acid (NaATBS), Diacetone Acrylamide, Isobutylene, High Purity Methyl Tertiary Butyl Ether (HPMTBE) and TB Amine. Its specialty monomers products include N-Tertiary Butyl Acrylamide (TBA) and N-Tertiary Octyl Acrylamide (TOA). Its specialty aromatics products include Normal Butylbenzene (NBB) and C 10 Aromatic Solvent. The Company's other products include Methanol and Hexene. It also offers polymers, including Vinflow_HT and Vinplast 245. Its polymers are used in a range of applications in various industries, such as construction, ceramics, oil drilling, mining, leather and paper. The Company operates in over 20 countries.
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VINATIORGA
