Pidilite Industries Ltd

NSE :PIDILITIND   BSE :500331  Sector : Chemicals

About Company: Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of our other major brands are M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Motomax, Hobby Ideas, Araldite.

News in Pidilite Industries: Bharat Puri, managing director, Pidilite Industries, said: This quarter, we have delivered very strong value and volume growth across categories, businesses, and geographies. Overall, we witnessed significant improvement in demand conditions across categories and geographies.

Daily Chart of Pidilite Industries Ltd:

Technical Outlook Of PIDILITIND:

Today on 11th Nov 21 (Thursday) trading session stock prices gained by 4.54% and closed at 2474.00. A price appreciation of 107.55 per share. Pidilite Industries on the daily chart has seen Ascending Triangle breakout with huge volumes. As marked on the chart above. Also Stock has taken support around trendline multiple times. Which clearly indicates the up-trend in the stock is intact.

As stock has seen huge rally today after Q2 results announcements we suggest momentum and swing traders to wait for some correction and take a fresh entry in the stock when stock re-test the breakout levels of 2420- 2440, Targets in the next few trading sessions are expected at 2532 (New highs) and 2700, We suggest to keep stop loss on long position at 2400.