BUY LAL PATH LAB ABOVE 916 TARGET 950-1010 WITH SL 875 TOTAL 1000 SHARES
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After crossing the day high of Rs.175.35 at falling as low as Rs.169.90 through the day, one stock of DLF Ltd. was observed to be priced at Rs.174.
With the volume weighted average price being Rs.173.36 , the total traded volume was observed to be 2,785,662 stocks.
The bid price was Rs.171 for 2637 stocks
BUY DLF FUTURE 176 TARGET 178-180 WITH SL 173.80
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Tomorrow might the important day that most of investors are waiting for. After falling below its crucial support level of 10100 bulls have taken charge in Index and pull Nifty future back towards 10180 levels in the last hour today which shown sign of positivity for bulls as bears couldn’t hold Nifty future at lower levels and finally lost its momentum to bulls.
In last 3 trading session we had seen that Bank Nifty future has not fall as much as Nifty future and whenever market shown recovery then Bank Nifty future has recovered fast as compare to Nifty future.
Bears are losing their hand and this is an opportunity for investors and traders. Risk reward ratio is in our favor at current scenario. This is the time to accumulate quality stocks.
24500 and 10100 is very crucial support level for both Bank Nifty future and Nifty future on closing basis and if Nifty future manages to sustain beyond 10290 levels then we might see Nifty future trading 10600 and Bank Nifty future at 26000 level soon.
|BANK NIFTY FUTURE||24799.80||25069.90||24770.00||25031.25|
Gujarat Fluorochemicals Limited (GFL) is a part of the $3 billion INOX Group of Companies. INOX Group is a family owned, professionally managed business group, with market leadership in diverse businesses including Industrial Gases, Refrigerants, Chemicals, Cryogenic Engineering, Renewable Energy and Entertainment. Within Chemicals, exposure is further diversified to PTFE (Polytetra flouro-ethylene, 38 percent), caustic soda (23 percent), Chloromethane (14 percent) and refrigerant gases (16 percent).
Company’s standalone business which is mainly constitutes chemicals business reported sales jump of 38 percent YoY in Q1 FY19 backed by higher pricing growth in refrigerators (21 percent), chloromethane (32 percent), PTFE and value-added products. PTFE value-added grade, in particular, had a strong volume (18 percent) and pricing growth (28 percent).
Operating margins improved to 30.8 percent (from 20.8 percent in Q1 FY18) on account of better realizations and value-added share (14.6 percent vs. 9.2 percent in Q1 FY18).Company’s chemical business contribution to operating profit has increased to 60 percent from 51 percent in Q1 FY18.
Positive prospects for PTFE and caustic soda industry end markets are among the key drivers. In the case of the caustic soda industry, supply-demand imbalance (supply cut in China and Europe) has been favourable for product prices. In addition, end markets like paper industry, water treatment and alumina industries are also doing well.
From late Jan 2018 stock has been trading in range between 890-730. In the week gone by we had seen strong buying movement in stock giving breakout of the range on closing basis despite sell off in Index. With more than 55% stock has been taken for delivery by investors in last 8 days. We had seen huge volume in stock on 17th and 12th OCT, which had been seen in OCT 2017.
Technical indicators like:
MACD is showing buying crossover on daily chart which shows bullish signal in stock
RSI has given trend line breakout which also given bullish signal in stock
PARABOLIC SAR and Momentum Oscillator both showing buying strength in the stock
From the above evidence we conclude that stock may move up above the level of 900 and may test 930-955 levels in the week with a stop loss below 864
RESISTANCE AND SUPPORT
RESITANCE 1- 900 SUPPORT 1- 865
RESISTANCE 2-940 SUPPORT 2-830