Jubilant Ingrevia - bottoming out trade
A potential bottoming out candidate. Its key raw material (Acetic Acid) prices have fallen bigtime.
The stock has bounced off a previous support level. At the support level the stock also has formed a positive triple divergence. There is a nice doji on the monthly candle as well.
The stock is on the verge of crossing over the 200EMA which is a bullish signal.
Will be adding the stock in 2 portions. First long above 575 (Stoploss 520) and then above 650. (Stoploss cost)
The stock has bounced off a previous support level. At the support level the stock also has formed a positive triple divergence. There is a nice doji on the monthly candle as well.
The stock is on the verge of crossing over the 200EMA which is a bullish signal.
Will be adding the stock in 2 portions. First long above 575 (Stoploss 520) and then above 650. (Stoploss cost)
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