Dwarikesh Sugar 4H TF AnalysisDwarikesh 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 breakout above 80
- Red Line breakdown of minor supports or enter into a consolidation zone
Quarterly Results declaration can see a good move
Sugar Industries is good for holding for the long term due to Ethanol Petrol Dilution announced by govt.
