According to fundamental research, MCX ( NCDEX ) cotton seems strongly bullish ahead. The short-term investors can start buying cotton nearby highlighted area for the targets of 19860 - 20000 - 20260+ .
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
Rallis India made a triangle patter and likely to hit 256 soon on back of the agri reforms announced. The stock has shows good recovery from the recent lows and my hypothesis says it will keep going up till 256.
Price action of Dhanuka Agritech exhibits a sustained weakness in Weekly time frame. The stock has consistently formed lowers and lower highs until recently.
By analyzing the recent price action, we could see that the two relatively new lows formed are at the same level indicating that bears might be losing steam. In fact previous weekly candle was huge thereby...
So Sugar did give the breakout that I was anticipating. Earliest targets could be the previous 240 highs and it could go beyond- probably as a corrective upmove . For fresh longs, waiting for a pull back or a corrective structure seems to be a good idea!