 "Balaji Amnies, Alkyl Amines: Specialty chemical stocks have more steam left")
Balaji Amines Limited (BALAMINES): Since the counter hit a new all-time high, the rally has got even stronger. The price is not showing any weakness despite the Relative Strength Index (RSI) being in an overbought condition. The trend looks positive and even volumes support this movement. The immediate support comes at Rs 780 and then Rs 740 levels. The chart suggests Rs 1,000 levels could be scaled in the sessions ahead. CLICK HERE FOR THE CHART
Alkyl Amines Chemicals Limited (ALKYLAMINE): The counter has doubled from the lows of March, 2020. The strength seen thus far is not showing any signs weakness as of now. The upside is intact above the support of Rs 2600 levels. The overall trend indicates that the stock is moving to conquer Rs 3,200 levels over the next few weeks. CLICK HERE FOR THE CHART
Navin Fluorine International Limited (NAVINFLUOR): For this counter, Rs 2,100 level has been a major resistance zone. Till the support of Rs 2,000 is held on closing basis, the stock may make repeated attempts to conquer the resistance area. The next closing basis support stays at Rs 1,910 levels. Navin Fluorine may see a breakout towards Rs 2,650 levels if it conquers the selling pressure above the resistance level of Rs 2,100. CLICK HERE FOR THE CHART
Supreme Petrochem Limited (SUPPETRO): A “Golden Cross” at Rs 204 level suggests a breakout in the direction of Rs 230 and then Rs 247 levels. To achieve this, Supreme Petrochem needs to hold a support of 50-days moving average (DMA) and cross initial resistance of Rs 200. Although the RSI has made a negative crossover, the larger structure represents “Inverse Head and Shoulder” with a downside support at 48 value. CLICK HERE FOR THE CHART
Gujarat Fluorochemicals Ltd (FLUOROCHEM): This stock has successfully managed to cross 200-DMA and every correction has been bought into. Till the support of 200-DMA is held - currently at Rs 448 levels, the upside rally may see the stock hit Rs 550 in the coming sessions. A strong crossover of 50-DMA with 100-DMA has boosted the upside potential, as per the daily chart. CLICK HERE FOR THE CHART
Alkyl Amines Chemicals Limited (ALKYLAMINE): The counter has doubled from the lows of March, 2020. The strength seen thus far is not showing any signs weakness as of now. The upside is intact above the support of Rs 2600 levels. The overall trend indicates that the stock is moving to conquer Rs 3,200 levels over the next few weeks. CLICK HERE FOR THE CHART
Navin Fluorine International Limited (NAVINFLUOR): For this counter, Rs 2,100 level has been a major resistance zone. Till the support of Rs 2,000 is held on closing basis, the stock may make repeated attempts to conquer the resistance area. The next closing basis support stays at Rs 1,910 levels. Navin Fluorine may see a breakout towards Rs 2,650 levels if it conquers the selling pressure above the resistance level of Rs 2,100. CLICK HERE FOR THE CHART
Supreme Petrochem Limited (SUPPETRO): A “Golden Cross” at Rs 204 level suggests a breakout in the direction of Rs 230 and then Rs 247 levels. To achieve this, Supreme Petrochem needs to hold a support of 50-days moving average (DMA) and cross initial resistance of Rs 200. Although the RSI has made a negative crossover, the larger structure represents “Inverse Head and Shoulder” with a downside support at 48 value. CLICK HERE FOR THE CHART
Gujarat Fluorochemicals Ltd (FLUOROCHEM): This stock has successfully managed to cross 200-DMA and every correction has been bought into. Till the support of 200-DMA is held - currently at Rs 448 levels, the upside rally may see the stock hit Rs 550 in the coming sessions. A strong crossover of 50-DMA with 100-DMA has boosted the upside potential, as per the daily chart. CLICK HERE FOR THE CHART
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%