TIRUMALCHEM looks good on the chart. With a RSI below 40, and a complete cup formation, the stock can reach upto the levels of 238-240 and give good returns in the short run. Also the stock has the potential to fly more in the long run. It could break the resistance of more than three years (around 240), and go above. The financials of the company is too good....
The stock Is consolidating in the 30 min time frame . Its currently at a strong support . I highly suggest buying above 133 with a minimum target of 142 and stop loss at 131
The stock has been giving a breakout from its ascending Triangle on weekly basis and then from a 6-month consolidation phase and a straight upmove to 134 levels. This level of 134 was a minor resistance but it managed to close above it and is also
retesting it very smoothly on low volumes supporting the view for a long trade for swing.
The recent financial...
After Highest Recovery from 52 Week Low, the stock is set to reach new heights. March 2021 Net Sales at Rs 281.85 crore, up 19.92%. The Turnover for March 2021 is 386 Cr, NP-84 CR, Reserves-792 Cr. The equity of the company is very small 10.0Cr. There is every possibility of a Bonus share or a very attractive dividend. The chart is self-explanatory
Thirumalai Chemical CMP - 115.05
Looking bullish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Buy range 115 - 116 / Stop Loss - 110
Target 1 - 118
Target 2 - 120
Target 3 - 122
Swing Target - 130, 145 / Stop Loss 88
Disclaimer: This is my view and for educational purpose only.
Thirumalai Chemicals completed 5 minor waves up completing wave (3). Now correcting in wave (4). It might correct upto 1000 in a span of 12 to 15 months.
