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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. ....
Shares of HDFC Bank closed at day s high, forming a Bullish Engulfing pattern. Axis Bank ,Aarti Industries, and Pidilite industries are the other stocks that saw bullish engulfing pattern formation. ....
“The macro setups where we feel that there is a lot of headroom left are the ones to be reinitiated at these levels or added on to this correction. So, all is well, we need not worry. It is eventually a bit of a pullback, which was much needed. Even if it extends another 200-300 points from here, that would be a welcome dip.” ....