Expansion In Chemical Sector Will Boost This Company

✅Gujarat Fluorochem is showing strong support around the 100 EMA at 3047. The stock has been consolidating within a descending triangle pattern for the past few months, which it is now attempting to break out from. If the stock can sustain above the 3265 level, it could see a significant upward movement toward 4500.

✅Company recently expanded its product line in the specialty chemicals segment, which is expected to boost its revenue. Additionally, the company reported a 12% increase in its quarterly profits as of June 2024, driven by higher demand in both domestic and international markets. This strong financial performance supports the technical breakout scenario.