Vinati Organics Limited
VINATIORGA closed at the Resistance level with high volume.
Technical Indicators are bullish.
****TRADINGEDGE TIME_TREND Indicator is also BULLISH****
If the price trades above 1048, a Breakout is expected. Next Resistance level is 1170.
The nearest support level is the low fo the supply zone (975).
KEEP AN EYE !!...
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.
Vinati Organics Ltd. engages in the manufacture and distribution of speciality organic intermediates and monomers. Its products include butyl phenols, speciality monomer and aromatics, miscellaneous polymers, and other speciality products. The company was founded by Vinod Banwarilal Saraf on June 15, 1989 and is headquartered in Mumbai, India.
VINATIORGA
