Hold Clean Science & Technology: target of Rs 1350: ICICI Securities
ICICI Securities recommended hold rating on Clean Science & Technology with a target price of Rs 1350 in its research report dated May 16, 2024.
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ICICI Securities recommended hold rating on Clean Science & Technology with a target price of Rs 1350 in its research report dated May 16, 2024.
While the near term pain for chemical stocks is expected to continue due to a demand slowdown and pricing pressure in the sector, the long-term outlook looks bright amid expectations of a strong recovery and capex plans.
Nifty on Wednesday ended 142 points weaker to form a bearish engulfing pattern on the daily chart, indicating a potential pause in the ongoing rally.
One should keep a note of FII’s long short ratio in index futures is around 66 percent (till Thursday). Once this ratio crosses the 70 percent mark, markets might start preparing for a temporary short-term top formation.
Godfrey Phillips India continued uptrend for fifth consecutive session. Also, it has seen V-shape recovery, with trading above all key moving averages (20, 50, 100 and 200-day EMA), which is a positive sign.