Stop loss: 2250

Target: 2430 / 2510

Alkyl Amines has shown a strong breakout from a flag and pole formation on the daily chart, backed by healthy volumes, indicating bullish continuation. The stock surged nearly 4% to close at Rs 2,348.20, forming a decisive candle that confirms strength and resumption of the prior trend. Price is well-aligned above key moving averages, reaffirming the positive structure, while volume expansion signals active participation. Notably, during this corrective phase in the broader market, the chemical sector has been among the few showing positive momentum, with Alkyl Amines emerging as a strong performer. Traders can consider a buy between Rs 2,340–Rs 2,350, placing a stop loss at Rs 2,250 on a closing basis, with potential upside targets of Rs 2,430 and Rs 2,510 in the near term.

(Drumil Vithlani, Technical Research Analyst at Bonanza)

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