EID Parry - Inverted Head and Shoulder - BullishEID Parry is one of the top fundamental company in sugar industry. And EID parry is among the Murugappa group of companies. One should watch Murugappa group of companies. They are all very good.
Seeking to curb carbon emissions, India aims to increase the share of ethanol in gasoline to 20 percent by 2025-26, from 13 percent -14 percent now. Indian sugar mills such as E.I.D.-Parry Balrampur Chini Mills Shree Renuka Bajaj Hindusthan and Dwarikesh Sugar have increased their ethanol production capacity in the last few years.
After reaching Cup & handle target, stock just completed correction cycle and now made inverted head and shoulder bullish pattern. Head height of 230 points is the target after breakout which comes around 1015 where Pivot R3 also there in daily timeframe.
Weekly RSI has made double bottom and is looking good. MaCD is on the rise. Volume was good on breakout on Apr 15 making inverted head and shoulder bullish pattern in daily timeframe.
