Bodal Chem (Swing):
A 35-50% up move is on the cards for swing.
Keep adding in chunks while script ranges around demand (green) zone.
Appropriate support, resistance and targets are highlighted.
Note: Do your own due diligence before taking any action.
I would be posting updates for this chart in the comments sections as time progresses.
Queries are welcome.
Bodal Chemicals Ltd. is a company that is into the sector of specialty chemicals. Bodal produces dyes and other related chemicals. It’s CMP is 83.4. Negatives of Bodal Chemicals are that their promoters are decreasing stake and quarterly net profits are decreasing. Positives are that they have low debt, FII’s are increasing stake and net cash flow is improving....
the stock look poised to go up after consolidating for quite some time, it might reach 150 and if break that level all time high is possible. Sl 100
Disclaimer: The stock/index/currency discussed do not constitute Investment/trading advise and is merely an effort towards enhancing learning, knowledge and book keeping. Kindly do your own due diligence and/or...
The chemical sector has seen an effective correction and the entire sector is about to perform good. Bodal chemicals can show the price level of 133 if sustained at cmp (120). Buy ondips at the levels of 100-105.
nse:bodalchem
Any pullback sign could be an opportunity to enter & confirmation for a long with the volume greater than previous weeks.
In previous week's higher volumes are indicating large accumulation by institutions. Looks like it is getting ready for new life time high. Red line violation will nullify the view.
Indian chemical industry is a beneficiary for China trade...
Bodalchemicals looks good for long bet Targets -200,400 forming trend angle pattern and it will benefit from China plus 1 theme and introduction of antidumping duty on imports by government givesan edge to local chemical manufacturers.
Crossed 85-86 levels which was a very imp resistance level. The triangle pattern forming on weekly charts ready for a multi-year breakout.
Buy at cmp and in dips
Short term SL - 81 on closing basis
Short term targets - 105, 120
Long term SL - use below trendline as SL or around 70 on closing basis
Long term targets - 125, 150, 180
