Stock to buy today: Supreme Petrochem (₹703.10) – BUY

BUSINESS

Stock to buy today: Supreme Petrochem (₹703.10) – BUY

AIMPWA

May 12, 2025

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The stock seems to be gaining momentum and gearing up for a fresh rally. The share price surged over 7 per cent on Friday, breaking well above a key resistance level of ₹680. Moving average cross-overs on the daily chart also strengthens the bullish case. The region around ₹680 will now act as a strong support.

A break above the immediate resistance at ₹721 can take Supreme Petrochem share price up to ₹800 in the next few weeks. Traders can buy Supreme Petrochem’s shares now at ₹703. Accumulate on dips at ₹685. Keep the stop-loss at ₹645 initially. Trail the stop-loss up to ₹720 when the price goes up to ₹735. Move the stop-loss further up to ₹745 and ₹765 when the share price touches ₹760 and ₹775 respectively. Exit the long positions at ₹790.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)

Published on May 12, 2025

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