Dalmia Bharat Sugar : Bullish harami at core support levels

Price action could take bullish reversal owing to candlestick as seen from core support levels after prolonged downtrend as seen earlier

RSI also seen to be taking rebound from "oversold" zone

Aiming for short term for Target 1 and 2 thereon after entry confirmation and thereafter, resistance (C) levels

Rest in charts..

Comment:

Scrip had seen further selling and downtrend however, it has found support and consolidating around 98-104 price range after posting progressive Q3 results

www.business-standar...-118020300745_1.html

Also, The company has managed to reduce finance cost by approx 50%

The recent news for hike in import tax would also turn advantage for the specific sector
www.thehindubusiness.../article22675357.ece

Planning to enter around 114 post confirmation (Good opportunity)

Comment:

Good news coming for the sugar sector which had been suffering which will help in maintaining demand and supply balance and thereby stabilising the domestic sugar prices in the country as the sugar production output had gone up beyond the ongoing demand henceforth resulting in decrease in sugar prices

zeenews.india.com/ec...-export-2092177.html

Probably, Good time to accumulate as sugar stocks could see reversal owing to the concurrent steps taken by the Govt.