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.
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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.
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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.
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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.
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