Target - 325+. New Capacity has come online and price of cement in South India is also higher QOQ and YOY. Expecting extremely strong numbers in Q3 from this company. Pattern also indicating bullishness. Can blast !
Has fallen towards 61.8% pull back of last rise & lower boundary of channel
If it sustains above 730, it can sustain above 730-35, it can have a rally towards 860-70, i.e. channel upper boundary
Not trading call, academic post
The stock is in strong uptrend on monthly and weekly charts making higher highs and higher lows. Also the weekly channel is moving upwards. Recently the stock during correction has landed on the lower channel support line. Buying in correction on the up trend is the strategy. Stop loss - 267. Tgt can be previous high 335/387
Fundamentals - Caustic Soda demand and prices firm. Likely to remain so for next 2 qtrs. Westlake stopped production in US which will immensely benefit this company.
Technical - At strong weekly trendline support. Fevicol point.
Channel bottom plus horizontal support on weekly. Convergence ! Get in at these levels. Sugar sector will bounce and best bet in Sugar. Disinvestment also on the cards and will be value unlocking for the shareholders.
Looks like accumulation happening and IT pack comprising of TCS, INFOSYS, WIPRO , TECHM & HCLTECH is ready to make a comeback. Above chart is the weighted average of the major IT companies by marketcap (Top 5).
Probably the two most important to see regularly in context to Emerging Economies like India. DXY will have a inverse relation to performance of equities in India and Vice-Versa. First chart chart shows the strength of FII's into EE.