Tech view: Near-term outlook on chemical stocks remains highly bullish

Since the negative divergence of the Relative Strength Index (RSI) has not been able to dampen the upside bias, the inherit strength is growing stronger in Tata Chemicals, charts show

Chemical stocks continued to shine at the bourses on Thursday with Camlin Fine, Himadri Special, Laxmi Organics, and Tata Chemcials surging between 1 per cent and 8 per cent on the BSE. In comparison, the benchmark S&P BSE Sensex was up 0.5 per cent at 49,918 at 11:45 am. 

So far in the month of April, stocks of most of the chemical firms have outperformed the benchmark index by soaring up to 42 per cent riding on the back of a firm pricing environment due to strong demand. Chemcrux Enterprises, Alkali Metals, Laxmi Organics, Anupam Rasayan, Balaji Amines, Tata Chemicals,