Balrampur chini is clearly following elliot wave paterns with 5 impulse waves and corrective waves, we can see a start of 3rd Wave in the stock. The 3rd wave will also have up ward and down ward movement with a potential upside of 35 - 45 points.
1st wave had an upside of 50 points from 85 to 135 2nd wave had and upside of 40 points from 125 to 165 3rd wave, from the movement of internal impulse waves we can guess the upside of 3rd wave so watch and trade accordingly.
With the festival season around the corner we can expect a demand in domestic sugar consumption and with Covid the use of sanitizers every where the company also increased its production of ethanol.