High was made on one month before at 17-01-2020. Since than under consolidation now spike may be seen above 179. SL can be kept at 168 levels.
Amazing week, is there more to go?
Today we look at the weekly close for risk levels and short and long term targets
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 3rd wave,...
The stock is near touch resistance zone, breakout only above 181 (Closing Basis) will open more space for Bulls. Target Open, Stoploss : 141
Explaination on Chart. Strong Commercial Long Buildup. But Bottom is still not Visible.
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!
COFFEEDAY weekly chart study. Avoid buying until the channel top is broken. Long term bulls can exit if the major support is broken on closing basis.
Structure Target 180. Stop loss of 100.
UTTAMSUGAR is a buy on NSE (UTTAMSUGAR) at 148 with SL of 137 and Target of 220
Sugar is very low and reached a strong support about 10. Therefore there is a potential for bullish mood in the market. Bull spread SBH19-SBK19 offers an interesting opportunity, when a price will make a correction to -0,20 and then up again to 0,00.
Sugar is very low and reached a strong support about 10.
Stock is in strong uptrend should bounce again. Follow the stop loss, don't hold for long.