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+ 90.83
+ 24.75
+ 39.00
+ 1,325.00
+ 1,289.00
+ 90.83
+ 24.75
+ 24.75
+ 39.00
+ 39.00
+ 1,325.00
The stock of Balrampur Chini Mills is gearing up for a fresh rally. The 3.6 per cent rise on Tuesday has taken the stock well above the 200-Day Moving Average (MA). It also confirms an inverted head-and-shoulder reversal pattern. Both the neckline support of this pattern and the 200-Day MA are poised around ₹390. So, a fall below ₹390 will be very difficult now. Balrampur Chini Mills can rise to ₹420 immediately and then to ₹440 over the next three-four weeks. Traders can go long at current levels. Accumulate on dips at ₹395. Keep the stop-loss at ₹385. Trail the stop-loss up to ₹412 as soon as the stock moves up to ₹416. Move the stop-loss further up to ₹422 when the stock touches ₹426 on the upside. Book profits at ₹435
Note: The recommendations are based on technical analysis. There is risk of loss in trading
Published on December 21, 2022
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