Vinati Organics is engaged in manufacturing of specialty organic intermediates and monomers, such as Isobutyl Benzene (IBB), 2 Acrylamido 2Methylpropane Sulfonic Acid (ATBS), Sodium Salt of 2 Acrylamido 2Methylpropane Sulfonic Acid (NaATBS), Diacetone Acrylamide, Isobutylene, High Purity Methyl Tertiary Butyl Ether (HPMTBE) and TB Amine. The company is world leaders in two of its main products, Isobutyl Benzene (IBB) and 2-Acrylamido 2 Methylpropane Sulfonic Acid (ATBS).
SHORT TERM PERSPECTIVE
|Company||Vinati Organics Limited|
|Recommendation||Accumulate (Rs. 994.45)|
|Stop Loss (SL)||Rs.945|
|Time Horizon||2-4 Weeks|
Intermediate and short term trend is up in this stock. After an up move, the stock has given a moil correction. The stock has made an inverted head and shoulders pattern on the daily chart which is bullish in nature. Moreover, currently the stock also made a Flag pattern and has given a breakout upwards. Increase in volume and positive diversion from oscillator indicate that stock can move higher from current levels so one can accumulate the stock at CMP With a stop loss of Rs. 945 on closing basis and for the target price of Rs.1120. Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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