The inventory of Sudarshan Chemical Industries turned bullish in Could final yr after it broke out of the resistance at ₹430. Nonetheless, after touching ₹610 final month, the value turned decrease. However the assist at ₹550 arrested the decline and on the again of this assist, the inventory rebounded. Final week, it broke out of the resistance at ₹610.
Regardless that the value softened on Tuesday, the uptrend is unbroken and we anticipate the inventory to rally from right here. Within the short-term, it’s more likely to hit ₹650. So, merchants should purchase the inventory now at round ₹610 and on a dip to ₹600. Place stop-loss at ₹585. When the inventory rallies previous ₹625, tighten the stop-loss to ₹600. Ebook earnings at ₹645.
(Be aware: The suggestions are based mostly on technical evaluation. There’s a danger of loss in buying and selling.)
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