Welcome to the quick update of BALRAMPUR CHINI MILLS. The company looks good fundamentally and technically and can be taken into consideration for our Portfolio.
It has broken the channel in 4hrs timeframe. As of now, it is trading at around Rs 349 and looks good for mid-term holding for a target of 20%-40%.
ENTRY between 319 to 328
Target: 378, 402,...
The structure showing weakness near the uppertrendline, If breaks 303- More downfall till 200 is possible, but that's for a little longer term. For now it can give one more upside trying to form H&S. I WOULD NOT MAKE ANY FRESH POSITIONS!