SPIC about to give strong breakout: Nirmal Bang

MUMBAI: Nirmal Bang has advised traders to buy Southern Petrochemicals Industries Corporation from delivery perspective. The stock is about to give a strong breakout, the brokerage says.

“Buy Southern Petrochemicals Industries Corporation from a delivery perspective keeping stoploss of Rs 29. Huge delivery based buying happening and the structure looks very positive.

On the monthly chart the stock is about to give a strong breakout if holds above Rs 39 in the near term. Immediate target we see is Rs 39 and Rs 44 in the near term,” the report said.