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amankavi

Balrampur chini : breaking 52-week high (probability)

Long
BALRAMPUR CHINI MI (NSE:BALRAMCHIN)  
amankavi Updated   
NSE:BALRAMCHIN   BALRAMPUR CHINI MI
Trend Analysis Chart Patterns Candlestick Analysis
2
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trendanalysis chartpattern candlestick
The scrip has seen strong price action (surge) today with increase in buying volume and about to break resistance (c) level, 52 week high
Ascending channel seen in formation
Declaration of good Q1fy18 result YoY
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Comment:
Scrip going on the right bullish path with two engulfing green candlestick henceforth, giving affirmation to high volume buying
Conversely, The MACD going above the signal line, which gives a bullish signal and suggests that the price of the asset is likely to experience upward momentum.
If there arent major corrections and the stock gains momentum in ascending channel, Would prefer to enter in range of 172-173 above resistance (C) levels for short target initally
snapshot
Comment:
Planning to short if the scrip takes bearish reversal owning to doji candlestick at targets defined in chart
snapshot
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