A study of the forming pattern suggests we could be in for a long break. After close of this candle if it closes at the lowest of the quarter and if we confirm the inverted hammer by going below, there may be pain ahead. Then again the efficacy of candlesticks remains at best limited.
The global sugar chart is forming look like bottoming out and here on sugar charts new lows are NOT being made with nifty...there seems to be a sectoral outperformance so far in last few days.
Can keep a look on dhampur if crosses recent pivot near 170, and go long with stops are recent lows.