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
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.
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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.