Pidilite is the market leader in adhesives and sealants, construction chemicals, hobby colours and polymer emulsions in India.
The company is not looking at any price cuts despite higher gross margins. However, in selected products, it would take price adjustments based on market conditions and competition. It has not seen any demand revival in either the consumer or industrial segments.
It was been trading in a consolidation range (refer the given stock chart) for last one year and witnessed an upward breakout from the same in the passing week. Its chart pattern alongside with confirmation indicators are in the favor of strong surge ahead. Traders shouldn’t miss this opportunity and accumulate in the given range of 590-598 with close below stop loss of 562 for the target of 675.