Technical Breakouts: SEBI Analyst Bets On Archidply, GMM Pfaudler, And Two More Chemical Stocks

Bullish technical indicators are signalling potential in four midcap stocks from the chemicals and manufacturing space. SEBI-registered analyst Vinay Taparia is betting on Archidply Industries, GMM Pfaudler, Alkyl Amines Chemicals, and Thirumalai Chemicals, but cautions that key supports must hold for his outlook to remain valid. 

Let's take a look at his recommendations: 

Archidply Industries 

Archidply has given a good breakout on the daily chart. Its Relative Strength Index (RSI) is also suggesting strength. The stock can move to ₹140 levels in the next six to nine months. He expects ₹105 to act as a support, but a close below ₹97 negates this outlook.

GMM Pfaudler

GMM Pfaudler has given a good breakout. The stock has recently formed a golden crossover as well. It can move to ₹1,600-₹1,800 level in the next six to nine months, but a close below ₹1,260 invalidates this view.

Alkyl Amines Chemicals

Alkyl Amines has given a channel breakout on the daily chart.  It is trading above the 50 and 200-day Exponential Moving Averages (EMAs). The stock can move to ₹2,700 in the next six to nine months, but a close below ₹2,090 negates the outlook.

Thirumalai Chemicals 

Thirumalai Chemicals stock has formed a morning star pattern on the support line. It can move to ₹320-₹340 in the short term. But a close below ₹277 negates this view.

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