Skip to main content

Balrampur Chini Mills Looking Hot

Investors looking for a contrarian buy can consider the stock of Balrampur Chini Mills at current levels. Following a short-term downtrend from the resistance level of ₹55, the stock took support at around ₹40 last week. The stock has a significant long-term support at ₹37-40 levels from where it had reversed higher in late June. Moreover, the stock has repeated the reversal now gaining almost 8 per cent with good volumes on Thursday. This upward reversal is backed by a positive divergence in the daily price rate of change indicator.
 
The daily relative strength index has entered the neutral region from the negative territory. Taking into consideration the stock’s reversal from a significant long-term support level with bullish momentum, we take a contrarian stance. The stock can extend its rally and reach the price targets of ₹44 and ₹45 in the forthcoming trading sessions. Buy the stock with a stop-loss at ₹41.3

Comments

Post a Comment

Popular posts from this blog

Dalal Street Tower Talk

Dalal Street Tower Talk   Singer India (Rs 182)--Singer Is a MNC Company in Which Promoter Holding Is 75 % Its Likely To Achieve EPS of Rs 6 Along With 15 % Dividend For The Fourth Quarter ended june 2015.Their Is also Likelihood of a Strategic Corporate Anouncement   Amines And Plastic:-Some Movement Can Expected In The Stock In The Coming Days (Bonus Buzz)  
1 comment
Read more

SSPDL LTD Big Play

SSPDL LTD  It is a small company having presence in South India. It has presence in Chennai, Hyderabad, Kerala and Bangalore. Only BSE listed company. But Circuit Filter is at 20%. From Annual Report: Company is primarily focusing on the development of land, plotted lands, mid-size houses, etc. and reduce the construction contracts work. In view of the projects of the Company under execution and in pipe line, the management is expecting better prospects in future for the company. During the year under review Company given loan of Rs 2.80 crore bearing 18% interest per annum to M/s. BHEL Employees Model Mutually Aided Co-operative House Building Society Limited for meeting the shortfall of amount in paying stamp duty for registering plots in Society’s Name. Projects completed during the year 2014-15: - (1). Frangipani, Pudupakkam, and (2). Meeting House/Service Centre, Bangalore. Regarding Ongoing Projects: 23 Cr is yet to receive from IT park (Alpha City pro...
Post a Comment
Read more