[sharetrading] Sugar

 

Sugar after testing the crucial 14.5 cent mark has closed at 14.48 cents. On hourly charts, it indicates a buy with the 4 hour chart indicating a consolidation phase beginning. Hence I feel that the deep selling which was occurring will abate as SL orders stop getting executed.

In coming days

Targets for Balramchinni 85/99

Renuka – 60.5/72

 

Another ripe candidate to follow is PunjLoyd, as it has breached downward 61.2% of the rise it had from the deep low to the high. The cross over of which will indicate selling is complete. Presently it needs to test 166 to indicate that selling is complete. Higher volumes were indicated yesterday, which I see as a positive sign…. Stay away till 157 is tested. RA’s can take 10% position with 144 as SL. Presently it is in deep bear hold. And the danger is abundant….. 61.2% is near 155

Abe

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