Possible trend breakout in LXCHEM?
Stock has been consolidating from past one year after a giving a strong rally of more than 300%. On 19/04/23 stock has finally given breakout from its downtrend. Price level of 275-280 which was acting as immediate resistance for the stock has been broken. In this week, if price manages to close above this level we can expect a decent rally in coming days. All the possible targets are marked on the chart. Price level of 250-220 should act as immediate support. One can maintain stop loss at 200.
About Fundamentals of the company, Laxmi Organic Industries Ltd is primarily a B2B business, currently operating in two verticals namely, Acetyl Intermediates (AI) and Specialty Intermediates (SI). The company is one of the India’s largest manufacturers and exporters of ethyl acetate, with a market share of approximately ~30%. Also, it is India’s only manufacturer of diketene derivatives, with a market share of approximately ~55%. The upcoming fluorochemicals (FI) vertical is under capitalization. This will attract more investors in coming days.
This is just a view not a recommendation to trade. Do your own analysis before making any investment.
Share your opinion in the comment section.
LXCHEM
About Fundamentals of the company, Laxmi Organic Industries Ltd is primarily a B2B business, currently operating in two verticals namely, Acetyl Intermediates (AI) and Specialty Intermediates (SI). The company is one of the India’s largest manufacturers and exporters of ethyl acetate, with a market share of approximately ~30%. Also, it is India’s only manufacturer of diketene derivatives, with a market share of approximately ~55%. The upcoming fluorochemicals (FI) vertical is under capitalization. This will attract more investors in coming days.
This is just a view not a recommendation to trade. Do your own analysis before making any investment.
Share your opinion in the comment section.
LXCHEM 
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.