SUGARUSD trade ideas
Sugar Sector Performance 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 Ethanol blending being a focus as crude oil rises will the new leaders continue to out perform in the sector or will new leaders emerge.
Keep a close eye on this space since sugar prices are high that almost every company is using full export quota while also producing ethanol from the cane juice to blend with fuel.
Along the way Praj Industries too could do well with rising orders for ethanol production units via new govt grants for the same.
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SUGARUSD : LOOKING FOR GREAT SHORT OPPORTUNITYSUGARUSD 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.
Continuation Move UpSo 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!
Upside for Sugar Yet?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 Fundamental Analysis experts can shed light on.
