Agro-chem maker on revival path as finance company goes bullish to sideways

Synopsis

The stock price of this company has been consolidating for the past five months. Now it is testing the resistance offered by a down-sloping trendline. The volume pattern suggests accumulation over the consolidation period and the recent rise can act as a confirmation for the start of the fresh up-move. A long trade can be initiated above the trendline.

Expert: Jyoti BudhiaIt is part of a large Group and has a history of over 150 years. The company is into manufacturing agrochemicals and is present across the value chain of agriculture inputs – from seeds to organic plant growth nutrients. It is also in the business of contract manufacturing for global corporations.101005533Rallis India LtdThe RSI is moving in sync with the price and has given a trendline breakout. The MACD has formed a bullish

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