BALRAMPUR CHINI BUY SIGNALBalrampur looking positive from here, pullback to 20 EMA and 1st green candle, Buy with an SL of Low of the Green Candle.
BALRAMCHIN trade ideas
BALRAMPUR CHINNI || SWEETNESS MIGHT TURN SOUR!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.
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
