Balrampur, took support at base
and now ready for next move
we can see 420/444 and max 495 levels next
hold with small stop loss of 385 on day close basis
The stock is currently at major support levels.
In addition we can clearly see a hammer candle which may be a sign of trend reversal in upcoming days.
RR ratio is good we can see a spike in upcoming days.
What are your views?
SL and TP1, TP2 & TP3 are marked
NSE:BALRAMCHIN has in Demand Zone of 385 range over last 7 month.
We can see long term move above 390 with SL of 380.
Major targets levels are highlighted in blue lines.
The stock price plummeted primarily due to the central government's ban on the use of sugarcane juice for ethanol production. However, I anticipated that this decision would be short-term, aimed at boosting sugar supply in the market and lowering sugar prices ahead of the upcoming election. I expected the government to eventually lift the ban, restoring normalcy....
Balrampur chini Has Taken Reversal from Very Impotent Level 376 and also Shows Reaction no we Can see Levels upto 461,486,521 and Final Target 568 SL will be Below 376 ,4 Hr Candle Closer so if we see and Any Deep it must Take it as an opportunity
BALRAMPURCHINI seems to be in a very crucial buying zone.
The reasons are listed below :
Stock price tested 411 levels multiple times and finally broke it and it is retesting those levels
again.
Broke the ascending triangle pattern i.e a bullish sign.
200EMA support on daily timeframe.
Stock was in a consolidation phase from last 1.5 years.
...
*Balrampur Chini Mills Ltd*
C&H Formation on Weekly Basis.
Upper Priceline BreakOut & Sustained.
Vol. Consolidation/BuiltUp gaining Traction.
RSI: 1H >D>W>M (All in Bullish Zone)
Widening Gaps amongst 20/50/100/200 EMAs
Resistance @ 494/514/522.
*Trail SL with Upside*
*Book Profit as per Risk Appetite*
Do Your Own Research as well. This is an Opinion.
Happy...
BALRAMPUR CHINI MIL LTD
Key highlights: 💡⚡
📊On 1Day Time Frame Stock Showing Reversal of Rising Wedge Pattern .
📊 It can give movement upto the Reversal target of Above 465+.
📊There have chances of Breakout of Resistance level too.
📊 After Breakout of Resistance level this stock can gives strong upside rally upto above 520+.
📊 Can Go Long in this stock by placing...
Major breakout is done in Balrampur chini. Can add 60% stock at CMP and 40% on retest. The volume is also supporting the breakout. The target will be around 510. And SL around 415
Breakout done with good volume
Chart looking good for upside move
Leading & Lagging indicator Bullish
Risk : Reward is very good at this time.
Make a entry for Long position
Disclaimer This is my personal view for education purpose only.
BALRAMPURCHIN is a performance based stock. and if we look at the chart we can see it has given the breakout after a nice consolidation of more than 1 year.
it’s expected to give a nice target of R:R :: 1:3.
Reason :
Bullish trangle breakout.
Support at the VWAP.
RSI is in Bullish zone, Trendline break of RSI.
Successful breakout after 14 months
High...
Balrampur Chini gives ascending triangle breakout with high volume on daily timeframe. stock have potential to give 20%-30% return in upcoming days. all sugar stocks shows good rally in past few days and it's time for balrampur chini. Current Price = 442 1st Target = 460 2nd Target = 520 Stop Loss = 418 (Closing basis). NSE:BALRAMCHIN
balrampur chini will hit 450 target. reason: its a good compny of production in sugar, apperntly the news of ethanol vehicles will drive it to the buying of retailers. by technical perspective it has broke the last red candle on 4hr chart. so its a good stock to buy for the 5% profit.
