These two sugar stocks look promising

Published February 15, 2019

Balrampur Chini Mills (BALRAMCHIN.NS) Close: 117.70

Balrampur Chini Mills Limited is in a rising trend channel both in the medium and long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing.

The stock has broken a resistance level in the short term and has marginally broken up through the resistance at rupee 117. An established break predicts a further rise. Support is between 113 and 100 rupees.

Volume tops and volume bottoms correspond well with tops and bottoms in the price. Volume balance is also positive which strengthens the trend. The stock is overall assessed as technically positive for the medium term.

Recommendation one to six months: Buy

Dhampur Sugar Mills Li (DHAMPURSUG.NS) Close: 192.95

Since bottoming out around 74 rupees, Dhampur Sugar Mills Limited has risen 160 per cent and does not look like its resting there. The stock is in a rising trend channel in all time frames; short, medium and long term. A resistance at 180 has recently been broken. Further upside is suggested. There is support between 180 and 166, while no clear resistance is seen on the medium term chart apart from the previous top at 317 rupees.

The volume balance indicator is positive, indicating that buyers have been aggressive with rising prices while sellers have been passive. The stock is overall assessed as technically positive for the medium term.

Recommendation one to six months: Buy

 

The analyses are based on closing price as per February 14, 2019. Maintaining proper stop loss is always recommended.

Skrevet af

Kiran R. Shroff
Analytiker
i Investtech

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Archive:

14 February: Three short to medium term opportunities 

08 February: One buy and one sell in stocks while index suggests caution 

06 February: One buy and one sell, short to medium term opportunities 

01 February: Upside breakout from price formations 

30 January: Buying opportunity: Reversing from trend channel support 

9 January: One positive and one to stay away from 

2 January:  A good investment opportunity 

2018

21 December:  Good buying opportunities

14 December:  Positive on these three stocks

11 December:  One buy and one sell signal

07 December:  Sell Signals in Three Big Stocks

04 December:  Highest scorer of our Top 50 list

30 November: Positive stocks with 5-11 per cent upside potential

28 November: Buy signal on high volume

27 November: One Buy and One Sell Signal

23 November: Fear dominates these stocks

21 November: Sell signal, time to stay away

20 November: Early opportunity from short term buy signal?

16 November: Two Buy Signals and One Sell Signal

15 November: Buy signal in this one

14 November: Solid buy signal

13 November: Big auto stocks comparison

09 November: What to wait for?

06 November: Banking stocks look positive

02 November: Positive on this one

01 November: TECHM, NIFTY50 and Hausse

31 October: What are investors thinking?

30 October: Bullish on these three stocks

26 October: Three potential candidates to ride on

24 October: Three big Metal stocks, Seasonal variation

22 October: Among top performers on our Top 50 list

18 October: Three stocks investors should stay away from

17 October: Flowing against the tide

16 October: Positive on these 2 stocks

11 October: Over 45 per cent rise

10 October: 3 negative stocks

9 October: The Indian banking space

5 October: Nifty closes at a crucial level

2 October: Price formations in the long-term charts

28 September: Positive on Biocon Limited

26 September: Bearish outlook

25 September: 3 solid buys

20 September: State Bank of India story!

18 September: Weekly technical analysis

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