Shares of specialty chemical company Pidilite Industries have broken out above the 50-SMA on weekly charts and could reach INR2,600 ($35) in price, according to analysts. While the stock is already near overbought levels and profit-taking is possible, the relative strength index is at 69.5 and MACD is bullish. The momentum saw the company break the 50-SMA for the first time since January, around which time it was consolidating around INR2,200. Pidilite Industries stocks are under a “structural bullish trend,” and could be accumulated in a range of INR2,472 to INR2,450 with a stop loss of INR2,400, according to the experts.
Tariff shock turns FIIs to sellers in April. Analysts flag global risk but back India’s fundamentals
Foreign institutional investors reversed course in early April, spurred by rising global trade tensions following US President Trump’s announcement of steep tariffs. This led to