Somethings buzzing in sugar stocks, given the formation of BULLISH PENNANT in few of the sugar stocks, seems something sweet is in the offering soon.
However hold on your Horses, before jumping to trade it. All the sugar stocks viz. Dhampur, Dalmia & Uttam have formed Bullish Pennant, however we need to wait for a confirmation, before Buying the Sweetner.
TOP 10 SUGAR Stocks , almost identical chrts, making rounding bottom after long term downtrend, after the Ethanol Price Hike news.
Can Ethanol revive the sugar sector?
BAJAJ HINDU$T@N -->
Beautiful Pennant pattern gave breakout with higher volume two days ago. It is retracing which offers a good opportunity for short term gain. Mostly the Pennant is formed in half way which means that price may move as much as before forming the pattern. Stop Loss 68 Target 85. Risk to reward ratio is quite reasonable.