Upside bias prevalent. Index showing relative strength.
A comparison of how the entire sector has performed since 1st April 2020. The sector like many other stocks almost bottomed towards the end of march 2020. Strangely enough most people and chatter has always focused around 3 major names..Balrampur Chini, Dhampur & Dwarkesh but none of those feature in the top 3 performers for the current financial year. WIth...
SUGARUSD is looking for a great short, because its formed ascending channel & has the reached at the top, Which has lots of opportunity for the sell side.
So Sugar did give the breakout that I was anticipating. Earliest targets could be the previous 240 highs and it could go beyond- probably as a corrective upmove . For fresh longs, waiting for a pull back or a corrective structure seems to be a good idea!
Sugar prices (SUGAR- USD) might see an up move over the next few days. As always, this could be a corrective up move or it could be a move thats going really far- its too early to say but I guess any Up move followed by a consolidation- at least in the short term, are buying opportunities. Now how that translates to Indian Sugar stocks is something that...