Balrampur Chini : Sweet Pill
Cup and Handle formation is clearly visible on weekly and daily chart. Daily chart is on breakout and today's close above 123 will confirm it. Buying cab be done around 122-123 level with stop loss below 110 (closing) for target 135 -150 - 180. Global shortage in sugar could be the reason for move in sugar stocks but shortage is majorly contributed by Indian subcontinent. Any supply of carry over stock could be threat to global sugar rally. Stop loss is strictly advised to play as per technical pattern.
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