Again a Buy call on Balrampur Chini
(Risky but a high reward Positional Trade)
Stock is consolidating from long time and making base formation(rounding Bottom), it looks like stock is waiting for some news to move up.
usually such formation occurs when smart/informed investor buy at lower levels to make higher profits.
After announcement of MSP, govt is considering more favorable steps for chini mills & related farmers like higher prices for Ethanol etc.
Volume to increased in consolidation zone confirm some thing is cooking into the stock.
Buy with a SL of 84 and a target of 90-92 in a month.
(Risky but a high reward Positional Trade)
Stock is consolidating from long time and making base formation(rounding Bottom), it looks like stock is waiting for some news to move up.
usually such formation occurs when smart/informed investor buy at lower levels to make higher profits.
After announcement of MSP, govt is considering more favorable steps for chini mills & related farmers like higher prices for Ethanol etc.
Volume to increased in consolidation zone confirm some thing is cooking into the stock.
Buy with a SL of 84 and a target of 90-92 in a month.