TIRUMALCHM trade ideas
Thirumalai Chemicals Ltd16-April-2024 | Live Market Analysis
Thirumalai Chemicals Ltd
#buy range 280 ~ 282
Expected #targets - 335 / 525 ++
NSE : #tirumalchm
Disclaimer: This analysis is for educational purposes only and should not be considered as trading advice or recommendations. Always conduct your own research before making any investment decisions.
Thirumalai Chemicals on an upswing. Thirumalai Chemicals Ltd. is one of the largest producers of phthalic anhydride, malic acid, maleic anhydride & fumaric acid globally. The manufactured items have a broad use in plastic industry, agricultural fungicides, enhancement of sweetness of fruits and carbonated drinks, animal feeds, medicines etc. They have presence in more than 34 countries.
Thirumalai Chemicals CMP is 204.90. Negative aspect of the company is declining quarterly net profits. Positive aspects of the company are zero promotor pledge, improving annual net profit, improving cash from operations annual, promotors increasing stake. FIIs are also increasing stake & low debt.
Entry in Thirumalai Chemicals can be taken after closing above 207. Targets in the stock will be 216, 222 & 228. Long term target in the stock will be 237 & 250+. Stop loss in the stock should be maintained at closing below 188.
Tirumalai Chemicals This is only for academic interest and am not a certified analyst.
Tirumalai chemicals has formed a perfect cup & handle which is an indication for an upward potential
Also the MACD cross over happens, which confirms the upward potential.
A potential stock for a watch out
Regards
K.Chandrasekhar
TIRUMALCHM Breakout on Daily Timeframe, Best Buy 233/231 TIRUMALCHM Breakout on Daily Timeframe, Best Buy 233/231
TIRUMALCHM Breakout on Daily Timeframe, Best Buy 233/231
TIRUMALCHM Breakout on Daily Timeframe, Best Buy 233/231
TIRUMALCHM Breakout on Daily Timeframe, Best Buy 233/231
TIRUMALCHM Breakout on Daily Timeframe, Best Buy 233/231
Bullish Stock 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. With its peg ratio below 1, decreasing debt and borrowings, increasing sales and investments even in the middle of pandemic, the company gives close to nil red flags.