There is long term FLAG and POLE pattern Breakout on the charts.
Today it gave a huge reversal on daily candle with huge volume.
I think it will test its IPO price band of 528/531.
Buy = today's close = 488.10
SL, Target marked on chart
Risk Factors: result on 30 August
Trendline Resistance Breakout on Hourly Basis with Huge Volume.
Other Indicators give positive bias as well.
Risk Factors : Promoters have been selling since last week.
Buy : 405/407
Target : 450
SL: close below 358
Risk reward = 1:1
First it broke the trendline with huge volume and then broke previous swing high with huge volume. Now consolidating before possible upmove.
Buy, SL, Target indicated by the RED/GREEN colors
Disclaimer: Earnings Day is close. Trade accordingly.
Long term trend shows that Punjab Chem has given buying opportunity.
In Period of >1 year it might give more than 30% returns if history gives any indication.
As soon as MACD crossover happens in monthly timeframe, we will see a rally for atleast 1 month. There you can book partial profit.
Must note that past performance doesn't guarantee future...
Simple Price Action
In Month of June, price took resistance of 200EMA.
Later in Early July price crossed 200EMA with huge volume and in mid-July Price retested 200EMA and support was established.
Now with 21 July candle which ended positive when Nifty was crashing gives confidence that stock will continue upward trend.
Risk/Reward : 1.5
Buy : 2300