Management informed in their last concall that they are exhausting high price GPC by this quarter.
From now onwards the blended price for GPC will be appx. 150 USD per ton against CPC price of appx 270 to 280 USD per ton. Also due to this reduction in price, company will have lower working capital requirements and the cash flow will become more positive.
IS THIS THE REASON FOR GETTING SUPPORT AT 95 LEVEL?
BE CAUTIOUS FOR GOING LONG AS THE CHARTS INDICATE 50 LEVEL AS THE NEXT SUPPORT.
WAIT FOR PRICE TO STABILIZE AT 100. THEN ONE MAY ENTER FOR LONG AS THE TARGETS WILL BE 114 & 135.
From now onwards the blended price for GPC will be appx. 150 USD per ton against CPC price of appx 270 to 280 USD per ton. Also due to this reduction in price, company will have lower working capital requirements and the cash flow will become more positive.
IS THIS THE REASON FOR GETTING SUPPORT AT 95 LEVEL?
BE CAUTIOUS FOR GOING LONG AS THE CHARTS INDICATE 50 LEVEL AS THE NEXT SUPPORT.
WAIT FOR PRICE TO STABILIZE AT 100. THEN ONE MAY ENTER FOR LONG AS THE TARGETS WILL BE 114 & 135.