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Tuesday, July 5, 2011

TRADING RECOMMENDATIONS Balrampur Chini Mills Ltd.

Balrampur Chini Mills Ltd. CMP - Rs 65.05

Technical Outlook & Trading Strategy:-

The Share price of Balrampur Chini Mills has registered a breakout from its crucial resistance level of Rs 64 and has simultaneously closed above its cluster of moving averages. The momentum indicator has already given a buy signal with a bullish crossover suggesting build up on the upside. We believe that these breakouts suggest strength and indicate a possible price upmove to the levels of Rs 68 / Rs 71 in the near future.
We recommend traders to buy 50% now and again in the range of  Rs64- Rs 63 levels with a stop loss placed below Rs 61.90

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