Saturday, 13 October 2012

BALRAMPURCHINI MILLS CMP 70.1 RS- HEADING FOR 88/94(20%+ GAINS) IN THE COMING WEEKS?

The chart of Balrampur chini Mills (India) may be turning bullish for the long term. The stock has been making new highs over the last few weeks and the fundamental news flow is turning positive with the decontrol of the sugar industry being talked about. A powerful intermediate 3rd wave rally may be in progress with targets of 88/94 in the coming months. CMP 70.1 INR. Our view would be cancelled if the price moves below 62 on a closing basis.


BALRAMPUR CHINI- HEADING FOR 20% GAINS?



















Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours


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