Stock to Watch Today:Borosil Glass Works Ltd

Borosil Glass Works Ltd Borosil Glass Works Ltd has framed consolidating in a tight range of 215 and 226 for the last six days. It has been forming higher lows while the upside has been capped 216.the stock has formed wedge reversal chart pattern on the daily charts.

Currently, the stock is trading at a breakout level of the pattern. The MACD has given positive indication with average on the weekly charts and rising above equilibrium level of zero. Thus, BOROSIL can be bought at current levels 230-231 and a stop loss below 219 for a targets of 240-250.

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News Highlights:

  • Sun Pharmaceutical Industries, India’s largest drug maker which is facing investor ire for certain corporate governance practices, on January 22 announced major steps to undo the damage, including discontinuation of super stockiest arrangement with related party Aditya Medisales (AML) and unwinding loans given to a third party.

Borosil Glass Works Ltd Market Commentary:

The Sensex was down 134.32 points at 36444.64, while Nifty was down 39.10 points at 10922.80. About 941 shares have advanced, 1584 shares declined, and 170 shares are unchanged.

SUNPHARMA, WIPRO, TITAN,KOTAKBANK, DRREDDY were the top gainers among Nifty 50 stocks while VEDL,TATASTEEL,M&M, ZEEL , JSWSTEEL were the top losers.

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