ENTRY ABOVE - 74
TGT - 80 to 85
SL - 68
Disclaimer:
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May be Sugar is going to be more sweeter soon...
Good Triangular patter formation in process... Any breakout above the upper trendline will result in a protracted move.
Risk takers can add 50% positions at CMP rest can wait for the breakout level.
Refer the below attached links of some of the successful idea posted by me which can be a learning for you.
Do...
BUY GUIDANCE:
Never buy before 3PM (for positional trading). I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
SELL...
Dwarkesh Suger is ready for breakout on weekly chart.It can give massive run after breakout. KEEP AN EYE. This is not my recommandation. It is for the education purpose only.
After breaking away from the triangle pattern DWARKESH (Dwarikesh Sugar Industries) has taken support at the previous short term resistance for the last three sessions and has begun an upmove today. All sugar industries are on a bull run; Dhampur Sugars is also on a similar pattern. A quick target of 82.50 is on the cards with potential to go even higher.
Simple price action seen in Dwarkesh Sugar, Trendline breakout on Daily tf. Volumes also look good, will see till the end of week if sustains can BUY for Upside.
Govt is thinking to increase the price of sugar as golbally the price is increasing. This will be positive for Mills and dwarikesh can rebound from 50EMA, this is a weekly or monthly target as RSI momentum is low.
Dwarikesh Sugar 4H TF Analysis
-Price was nicely moving in a Rising Channel and continuously taking support from 50 EMA(Pink Line)
-Broke Out of Rising Channel but take Support and trying to gain back its status
-Major Resistance @ 80, Trying 3rd Time Need Good volume to break it and sustain it
-Major Support @60
Two Possible Scanerios
- GreenLine Price...
DWARIKESH : cmp: 80.15
Trading near the breakout lvl of 82.5.
If it surpass and sustains above the lvl a fresh buying is likely to trigger in the short term.
Closed above previous high.
Good to grab on dips.
TGT 85.25/88.75
SL 75.9 clbs
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
Dwarikesh Sugar Industries Ltd. engages in the manufacture and refining of sugar from sugarcane. It operates through the following segments: Sugar, Co-generation and Distillery. The company was founded by Gautam Radheshyam Morarka on November 1, 1993 and is headquartered in Mumbai, India.
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