P I Industries Ltd

NSE :PIIND   BSE :523642  Sector : Agro Chemicals

About Company: PI Industries Ltd is a leading player in the agro-chemicals space having strong presence in both Domestic and Export markets. It has state-of-art facilities in Gujarat having integrated process development teams with in-house engineering capabilities.

Daily Chart of PI Industries Ltd:

Technical Outlook Of PI Industries Ltd:

Stock on Wednesday 15th Dec 2021 gained 4.58% and closed at 3087.55 on NSE. If we look at the long term time frame chart it can be clearly observed that the stock long term trend is intact and is bullish. Stock term correction took place in the stock, where we plotted Fibonacci Retrenchment and we observed stock is trading near 50% retrenchment level which is at 3118.95. Once it sustains above 3118.95 we expect the stock to head upward. Hence we recommend traders to initiate fresh long only once stock decisively crosses 3118.95, if sustains we expect targets of 3430- 3500 in next few trading sessions. Till stock is trading above 3020 we have a positive stance on the stock.