SHOWN HOW RESISTANCES BECOME SUPPORT AND VIC VERSA LET A GOOD CANDLE NOT DOJI ONE TO CLOSE BELOW CLOSE BELOW 180 CLOSING BASIS USE ATLEAST 30 MINUTE CANDLE GO SHORT TARGET MARKED OR IF IT GOES UP TARGET GIVEN FOR UPSIDE TOO
TRADE AT YOUR OWN RISK
Balrampur Chinni might have completed the upmove in the present cycle and could distribute before moving down. One may close long positions and initiate shorts on rise with a potential dip towards 117.
A converging MACD on the downside and a dip in RSI from overbought region back the call.
Cup and Handle formation is clearly visible on weekly and daily chart. Daily chart is on breakout and today's close above 123 will confirm it. Buying cab be done around 122-123 level with stop loss below 110 (closing) for target 135 -150 - 180. Global shortage in sugar could be the reason for move in sugar stocks but shortage is majorly contributed by Indian...