Brokerage View: Chemical stocks ripe for fresh up-cycle

InCred Equities said the chemical sector looks ripe for a fresh up-cycle which is expected to last for the next few years. The brokerage said some stocks look ripe for almost 100% upside and more.

“These stocks have either reversed from a long-term support or made a multiyear breakout retest which make them quite safe as compared to the stocks which are witnessing a breakout which can fail if the markets correct,” said InCred’s VP, Gaurav Bissa, in a client note.

“These names will correct if there is a correction in the market but overall, the long-term trend has reversed.”