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The consolidation is expected to continue until the Nifty 50 delivers a strong close above the midline of the Bollinger Bands. Below are some short-term trading ideas to consider.
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Stocks to Watch, 27 May: Stocks like InterGlobe Aviation IndiGo, KEC International, PG Electroplast, India Pesticides, Sagility India, 360 ONE WAM, Aurobindo Pharma, Bayer Cropscience, Blue Dart Express, Shilpa Medicare, General Insurance Corporation of India, Maharashtra Seamless, Lumax Industries, Amber Enterprises India, KFin Technologies, Dabur India, and Borana Weaves will be in focus on May 27.
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The market is expected to consolidate further amid caution ahead of tariffs announcements by Donald Trump. Below are some trading ideas for the near term.
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Going ahead, the current chart structure indicates that the Nifty 50 may continue its consolidation for the next couple of sessions before picking its next direction, said Sudeep Shah.
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Sharekhan is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 659 in its research report dated October 29, 2024.
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Sharekhan is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 550 in its research report dated May 28, 2024.
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The 23,000 level is expected to play a key role in the Nifty's further direction, and sustaining this level can take the index towards the upper band of the Rising Channel (i.e., 23,100-23,200), followed by 23,500, with support at 22,800.
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The domestic agrochemical market is better placed while issues persist on export front
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Prabhudas Lilladher is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 450 in its research report dated October 31, 2023.
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Sharekhan recommended Hold rating on Sumitomo Chemical India with a target price of Rs 430 in its research report dated August 02, 2023.
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Prabhudas Lilladher is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 500 in its research report dated August 01, 2023.
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Sumitomo Chemical reported a 55 percent YoY decline at Rs 62 crore in the June quarter on delayed sowing, pricing pressure and surplus channel inventory
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It is a company with a healthy balance sheet, R&D-focused parentage and has a huge growth opportunity in the exports market
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Sharekhan is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 465 in its research report dated May 19, 2023.
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Prabhudas Lilladher is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 550 in its research report dated May 19, 2023.
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Opportunity to supply technicals to its parent company showcases export potential, but near-term risks prevail
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Sharekhan is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 550 in its research report dated February 06, 2023.
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Prabhudas Lilladher is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 590 in its research report dated February 06, 2023.
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Prabhudas Lilladher is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 610 in its research report dated October 31, 2022.
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Sharekhan is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 570 in its research report dated October 31, 2022.
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Overall, SCIL has a strong growth potential owing to the healthy launches in the domestic market
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Given the currency trend, we expect margin pressure to sustain in the near term and have reduced our margin assumptions for FY23
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Sumitomo Chemical India share price climbed more than 6 percent to end at record closing high of Rs 524 and formed strong bullish candlestick pattern on the daily charts, engulfing previous six days' negative candle, with above average volumes. It has seen a breakout of long upward sloping resistance trend line adjoining July 15, 2021 and July 12, 2022.
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Prabhudas Lilladher is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 510 in its research report dated August 11, 2022.
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Sharekhan is bullish on Sumitomo Chemical India has recommended buy rating on the stock with a target price of Rs 540 in its research report dated August 10, 2022.
