Dhampur Sugar is trading in a narrow range price band.
Not able to sustain above 260 odd levels...
Approaching 248 - 249 good bounce back zone...
2-3 consecutive close below 248 chances of drifting down to 220-215 zone are high.
Follow... Like... Share...
DHAMPUR SUGAR MILL - Short-term Trend analysis
1. V shape recovery, it falls more than 65% from the all-time high...
2. It May be in the over-bath zone.
3. If the stock opens and closes at more than 234 then it may have a short-term up rally.
4. Target is 317 if the market trend reversal.
5. Fundamentally good stock, maybe we can hold for the mid-term for a good...
Dhampur Sugar seems to be getting ready to test level of 230 where its all time resistance zone exists.
Risk reward is favourable for a long setup with a stop below 150.
NSE:DHAMPURSUG can break out on either side and needs a close watch. Volumes also will be crucial to watch out for at the break out/down point. Good entry would be above 148 for a quick gain in short term.
