Trade setup:
Weekly: Crossed longterm trend line (red colour) with volumes, and sustained this time.
Daily: golden crossover (21EMA > 50EMA > 200EMA)
Entry = CMP (1133 INR) or wait for retracement to breakout zone (between 995 INR - 1050 INR)
SL = 950 INR
Target = 1202 INR (T1) and 1322 INR (T2)
Fundamental Analysis:
Oriental Carbon & Chemicals Limited is engaged in manufacturing INSOLUBLE SULPHUR & Sulphuric Acid. The company operates in an oligopolistic market structure with only three credible players in the international market & OCCL being sole player domestically. Its global market share is around 10%.
Over the long term OCCL is worth exploring. In short term, Invest in a staggered manner as there may be short term hiccups because the company is closely linked with the automobile sector, and there are quite a few hurdles for the automobile sector which can be overcome only once the economy starts functioning in full that is after the pandemic. (source: Darkhorsestocks.com)
Weekly: Crossed longterm trend line (red colour) with volumes, and sustained this time.
Daily: golden crossover (21EMA > 50EMA > 200EMA)
Entry = CMP (1133 INR) or wait for retracement to breakout zone (between 995 INR - 1050 INR)
SL = 950 INR
Target = 1202 INR (T1) and 1322 INR (T2)
Fundamental Analysis:
Oriental Carbon & Chemicals Limited is engaged in manufacturing INSOLUBLE SULPHUR & Sulphuric Acid. The company operates in an oligopolistic market structure with only three credible players in the international market & OCCL being sole player domestically. Its global market share is around 10%.
Over the long term OCCL is worth exploring. In short term, Invest in a staggered manner as there may be short term hiccups because the company is closely linked with the automobile sector, and there are quite a few hurdles for the automobile sector which can be overcome only once the economy starts functioning in full that is after the pandemic. (source: Darkhorsestocks.com)
Trade closed: target reached:
02Aug21: today, OCCL 14% up, and target 1 achieved.
keep trailing for T2.
Personally, closed the trade.
keep trailing for T2.
Personally, closed the trade.