While each of these microcap stocks carries inherent risks, the current technical setup supported by the Heikin Ashi Multi-Time Frame alignment signals a potential for bullish breakouts.
The market may climb further amid consolidation, but it is unlikely to break Monday's low soon. Below are some trading ideas for the near term.
India Glycols Share Price | The work for enhancement of grain-based distillery capacity by 180 KLPD and the bio-fuel ethanol plant (Ethanol to Bio-Fuel conversion) by 90 KLPD at Gorakhpur (Uttar Pradesh) is in progress and the same is expected to be commissioned by Q4/FY25.
A close above 24,500 could drive the Nifty 50 towards the 24,700-24,800 zone, but if it stays below this level, consolidation and range-bound trading may continue with 24,200 as support. Here are some trading ideas for the near term.
OMCs have placed an order for 12.8 crore litres amounting to Rs 896 crore while oil companies placed an order for 3.75 crore litres totalling to Rs 268 crore.
The Cup and Handle Pattern breakout is observed on the daily chart of Indian Railway Catering & Tourism Corporation. Price breakout is accompanied with rising volumes.
The company said it is doing this because of increase in demand of ethanol and captive requirements.