Gladiator Stocks - Nocil - ICICI Direct

Technical View

- The Chemical sector has endured its relative outperformance in CY21. Within Chemical space, we remain constructive on Nocil as it has resolved out of past 10 weeks consolidation range (Rs. 157-199), signalling resumption of primary uptrend and offers fresh entry opportunity

- The share price has formed a higher base above its 10 week EMA which has been held since April 2020, displaying robust price structure. Key point to highlight is that the stock has retraced less than 61.8% of the preceding February up move (Rs. 140-200). Shallow price retracement indicates inherent strength in the stock

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Shares of NOCIL LTD. was last trading in BSE at Rs.210 as compared to the previous close of Rs. 199.95. The total number of shares traded during the day was 176297 in over 4291 trades.

The stock hit an intraday high of Rs. 213.4 and intraday low of 199.6. The net turnover during the day was Rs. 36755398.

Source : Equity Bulls

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