Pidilite Industries Limited  is India’s dominant player in the adhesives & sealants segment, with its flagship product ‘Fevicol’ and other legacy products (M-Seal, Dr. Fixit, etc) that command 70% of domestic market share and contributes around 50% to its topline.The Consumer & Bazaar Products segment includes products, such as adhesives, sealants, art and craft material and others. The Industrial Products segment covers products, such as industrial adhesives, synthetic resins, organic pigments, pigment preparations and surfactants.

technofunda-pidilite-chart01-04-2019

 

SHORT TERM PERSPECTIVE

Company Pidilite Industries Limited
Recommendation Accumulate (Rs.1390-Rs.1392)
CMP Rs.1397.65
Stop Loss (SL) Rs.1355
Target Price Rs.1450-1480
Time Horizon 2-4 Weeks

 

technofunda-pidilite-graph01-04-2019

 

Intermediate and long term trend is up in this stock. After a mild correction stock is trying to reverse from 100 day EMA which has acted as major support in previous days on daily chart, clearly show buying interest among the participant in every dip.  Stock has developed short term base near to 50 day EMA and formed higher top higher bottom formation on daily as well as on weekly chart, this is bullish pattern in nature. Due to market volatility we are advising to accumulate this stock between (Rs. 1390 –Rs. 1392) with a stop loss of Rs. 1355 (closing basis) for the target price of Rs. 1450 – Rs. 1480. Time frame should be 2-4 weeks.


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Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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