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
NSE:BALRAMCHIN has printed a Nice bullish pinbar around 80. i will go long around 84 tomorrow.....Contra Trend trade...High risk trade ...play with a very light position
The stock has nicely formed Wolfe Wave pattern and today's engulfing makes it a candidate for long. One can buy the stock for a target of 170 by providing a stop loss of low of today on closing basis.
Balramchin giving a long breakout and accumulation going on- Buy it @ cmp 153-154 sl 150 tgt 160/163/168+ For Fut traders- Hedge - Buy BalramChin Fut @ cmp 154 & Buy 150 PE @ 3.75 & hold till further update... Lot Size- 3500