Stop loss: Rs 1870
Target: Rs 2100-2200
India Glycols closed at 1966.60 with a strong gain of 117 points or 6.33%, registering a solid bullish candle as it broke out from a multi-week consolidation range on the daily chart. The price surged with increased volumes, indicating renewed buying interest. RSI stands at 66.37, hinting at building momentum, while ADX at 30.71 supports strength in the trend. The stock is comfortably trading above all major EMAs (20, 50, 100, 200), maintaining its bullish structure.
Drumil Vithlani, Technical Research Analyst at Bonanza
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