#Dwarikesh Sugar was at 148 few months back and then touched 75 almost 50% correction from the top. Now price is at 98 and coming from the zone and forming base 1. Can be added for good upside. Sugar sector plus festive season plus fuel blending is playing the game.
Please do your own study before investment.
According to EWT:
5th wave has already traveled for more than 2.618% reverse Fibonacci retracement of wave 4. Now, bullish momentum can push it up to 136 at 3.618% .
share name : dwarikesh sugar
reason of buy :
- Share is consolidation on their resistance area
of 2017 price is 80 which is a good sign
- Now, It is forming a pennant and we can see a
clear breakout on charts
- In upcoming days we can see targets of 120
with stop loss 60
Thanks
India, the second largest producer of sugar in the world, is more than self-reliant for its sugar consumption. Countries that imported the highest dollar value worth of sugar from India in 2020 are United States, Indonesia, Italy, Algeria, Bangladesh & Malaysia.
Drivers of sugar demand in India-
1. Rising population
2. Growing chocolate demand
3. Rise in...
one of my fav picks from ethanol sector in small-cap stocks is Dwarikesh!
Have prospects for high upside, brilliant recent breakout!
Keep an eye and build position rationally!
