Pidilite has reached 120 day EMA and Multiyear Trendline support as well - I had pointed it out the last time it did so, and it went on to make 40% returns after that. This time its different. The company has been showing slowing sales growth, and suffering from increased crude volatility expectations. It reflects in its high PE of 94 against a 10 Year Median PE of 55.
It will be interesting to see if the share price takes support here, or goes on to discount even more to more fair valuations.