Price looks to test 250+ in short time frame. Holding 180 on DCB is important for upmove to continue. Disc : it's not an investment advice to buy or sell
Multiyear breakout in monthly charts . Rounding bottom pattern. Demand supply mismatch in Sugar globally. Increased Sugar production by 20% in last few months. This can add the stock price surging towards target of 370-392.
Blarampur chini taking suppot at previous resistance
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Ref chart Vijayaraghavan, Kovilpatti
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,...
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
The stock is near touch resistance zone, breakout only above 181 (Closing Basis) will open more space for Bulls. Target Open, Stoploss : 141
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...
CMP 100 TARGET 110 SL 93.5 Animesh Vashisht
Level mentioned in chart.
BALRAMCHI is unable to take out its previous highs which suggests its a Shorting Opportunity. Sell BALRAMCHI at 73.25 with Stop-loss of 76 and Target of 62