ParimalDevnath

Pidilit Ind, Consolidation

Long
NSE:PIDILITIND   PIDILITE INDUSTRIE
I covered this stock at the time of breaokout. Since then price has made a vertical move. For last one month price is consolidating due to big upside and development of a negative divergence. Now bulls will find it tough to clear up the resistance level of 1128-30. If they can do, it will be a nice breakout, second in the line, again. Expecting more days of consolidation. As per range of products are concerned and marketing, the company stands of solid footing. Kind of monopoly.
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