BALRAMCHIN trade ideas
Balrampur Chini : Sweet Pill 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 subcontinent. Any supply of carry over stock could be threat to global sugar rally. Stop loss is strictly advised to play as per technical pattern.
BALRAMPUR CHINI Daily ChartBALRAMPUR CHINI
Daily chart shows wedge formation.
Trend lines showing support and resistance met.
The BLUE lines also show where it has met support multiple times.
BalramchiniBalramchini is running in channel it's very good for long term
Balrampur Chini is to benefit from govt plans to use more ethanol 3 years down the lines planes would also fly on ethanol.
Very Good Action might happen any time soon
100+ | 120+ Target hold with strit stoploss
#BALRAMCHINReversal confirmation of D
Bottom confirmed
Pinbar range is broken with strength
Higher Lows
EOM 92.60 breach with strength will take it further
Rounding Bottom buy for positional tradeThis stock gonna rock coz of nifty positiveness and fundamental factor
Balrampur Chini Is Poised For A Huge Move-Stock broke out of a downward channel and then consolidated for a few weeks with volumes drying up.
-Stock broke out yesterday after consolidation, confirming a double bottom and an inverted head & shoulder pattern.
-Stock also broke above a long-term resistance line that has been tested multiple times over the years.
-Breakout was on high volume.
-Stock sustaining above 50 DMA which has acted as resistance in the past.
-Huge bullish divergence on RSI.
-Bullish divergence on Stochastic.
-Huge Bullish divergence on MACD along with MACD line crossing over 0.
-Bullish divergence on weekly MACD, RSI, and Stochastic as well.
Not n investment advice. Do your own due diligence.
Disclosure: Invested.
