Navin Fluorine International Limited

NSE :NAVINFLUOR   BSE :532504  Sector : Chemicals

About Company: Navin Fluorine International is one of the largest integrated fluorochemicals complex in India. The Company primarily focuses on fluorine chemistry – producing refrigeration gases, inorganic fluorides, specialty organofluorines and offers Contract Research and Manufacturing Services

News in Navin Fluorine International Share: Today Company Declared Q3 Results, Net Sales stood at Rs 378.95 crore in December 2021 up 22.6% from Rs. 309.10 crore in December 2020. Quarterly Net Profit at Rs. 68.79 crore in December 2021 up 16.81% from Rs. 58.89 crore in December 2020.

EBITDA stands at Rs. 106.06 crore in December 2021 up 17.34% from Rs. 90.39 crore in December 2020. Navin Fluorine EPS has increased to Rs. 13.89 in December 2021 from Rs. 11.90 in December 2020.

Technical Outlook of NAVINFLUOR:

On Tuesday 1st Feb 2022 company declared its Q3 results which beat the estimates. On account of which smart rally is seen in the stock.Today stock gained 8.20% closed at 4256.80 on NSE. A price appreciation of Rs.322.50 per share in a single trading session. Volumes were above 20 Days average volumes.

Stock Open gap up and above previous day’s high.After opening sharp sell off was seen in stock which dragged it below day’s low and stock touched fresh low 3923.65. As it was budget day, huge volatility was seen in the market, later in the afternoon trading session stock started gaining momentum and touched a high of 4327. It was just 2 Rupee away from all time high of 4329

On the daily chart, we observed that the stock gave huge returns in the past 2 years and at each correction buying has been seen in the stock. Technically the chart structure looks very bullish. Stock is trading above short term and long term moving averages i.e. stock is trading above 20,50,100,200 days exponential moving averages.

Looking at chart structure, robust quarterly results and momentum we recommend short term traders to buy stock around current level around 4250-4230, Expecting targets of 4500- 4700 in the next 1-2 months, Stop loss should be maintained below support level of 3800 i.e. below 200 days exponential average.

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