Dhampur Sugar is trading in a narrow range price band.
Not able to sustain above 260 odd levels...
Approaching 248 - 249 good bounce back zone...
2-3 consecutive close below 248 chances of drifting down to 220-215 zone are high.
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Dear Followers,
I Hope this message finds you well. I wanted to provide you with an update on the stock NSE:DHAMPURSUG you've been following. The stock has recently taken support at a key level, indicating a potential opportunity for a short-term trade. my analysis suggests that there might be a favorable entry point for a short- Term position.
Stock Name- ...
Dhampur Sugar gave a major breakout with good surge in volume and coming for a retest. We can add some near 300 levels with the SL 280 and target will be 380.
Dhampur Sugar mills after a long breakout aka range breakout gave a good rally now again at resistance but on a daily volume popout can be seen
Buy above 276
Sl below the pink box
Tgt open
Good for investment view
Good to avg fundamentals
Ask your financial advisor before buying only for educational purposes
DHAMPUR SUGAR MILL - Short-term Trend analysis
1. V shape recovery, it falls more than 65% from the all-time high...
2. It May be in the over-bath zone.
3. If the stock opens and closes at more than 234 then it may have a short-term up rally.
4. Target is 317 if the market trend reversal.
5. Fundamentally good stock, maybe we can hold for the mid-term for a good...
DHAPUR SUGAR is in weekly squeeze. its high compression squeeze and it will fire above 338-340. Technical strength is also looks good and coming out from consolidation.
Target - 380-400
With Sugar prices being up and Crude also moving higher, Ethanol blending could increase and with that procurement of Ethanol from Sugar Mills.
This could be positive for the entire sector on a whole..
Dhampur has a C&H which could potentially breakout above 360.
Keep a 7% SL and let it run.. (Even if you get stopped the first time keep tracking it and maybe...
Dhampur Sugar seems to be getting ready to test level of 230 where its all time resistance zone exists.
Risk reward is favourable for a long setup with a stop below 150.
