Comments
The outlook is bullish for J.B. Chemicals and Pharmaceuticals. The stock has been moving up well over the last few weeks. After consolidating between ₹1,835 and ₹1,940 for some time, the stock has broken this range last week.
Also, there is an inverted head and shoulder patter formation on the chart which strengthens the bullish case. Supports are at ₹1,930 and ₹1,890 which can limit the downside if there is an intermediate dip. J.B. Chemicals and Pharmaceuticals share price can rise to ₹2,100 in the coming weeks.
Traders can go long now at ₹1,962. Accumulate on dips at ₹1,935 and ₹1,910. Keep the stop-loss at ₹1,860. Trail the stop-loss up to ₹1,980 as soon as the stock goes up to ₹2,020. Move the stop-loss further up to ₹2,030 when the price touches ₹2,080 Exit the long positions at ₹2,100.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.