Crime Today News
The stock of Sudarshan Chemical Industries turned bullish in May last year after it broke out of the resistance at â¹430. However, after touching â¹610 last month, the price turned lower. But the support at â¹550 arrested the decline and on the back of this support, the stock rebounded. Last week, it broke out of the resistance at â¹610.
Even though the price softened on Tuesday, the uptrend is intact and we expect the stock to rally from here. In the short-term, it is likely to hit â¹650. So, traders can buy the stock now at around â¹610 and on a dip to â¹600. Place stop-loss at â¹585. When the stock rallies past â¹625, tighten the stop-loss to â¹600. Book profits at â¹645.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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