When stock went up in 2021, did “News” everyday explained the buying interest?
Don’t wait for news. It’s supply demand.
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Just thinking …what levels can make it a contra buy?
Waiting for LC to open and than observe behavior.
Any other monitorables?
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Observe PAP prices…
When they announced cracking of nitri benzene route, PAP prices are 440/kg ( they are supposed to make it at 280/ kg…giving them huge advantage…then came china dumping, now the price fallen to less than 150per kg..with this they are bleeding…
Further the 36000 MT capacity addition that they are supposed to do due to PLI scheme went wary..( they increased their capacity to 9000 MT from 1500 MT, through debt)..
So in simple, if anyone want to track, track PAP prices instead of technical bounce
Disc: once invested and booked out with heavy loss at 50/- levels
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