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Moneycontrol.com >> Message Board >> View Messages >> Balrampur Chini
   You are here :     Moneycontrol     MMB    Stocks      Balrampur Chini                         Most active discussions of 2006 , 2007 & 2008
Don't short in sugar stocks (2)   08-Jul-08 19:35Tracked by (0)  
Posted by:   saan on ( 08-Jul-08 19:35 )
Price : BSE: Rs 72.70 ( -4.53 % ), NSE: Rs. 72.65 ( -4.60 % )
Technical Analyst, Rajat K Bose is of the view that one should not go short in sugar stocks. Analyst see signs of accumulation and then a sign of a breakout, so he advices to go long and once the momentum comes in, then buy.

Bose told CNBC-TV18, "Sugar is definitely having a bad session but then they have come-stocks like Balrampur or Renuka or for that matter Bajaj Hindusthan these stocks have come to such levels that you won’t see much of selling out here. Of course buying might take some time to emerge but these are not the levels, where you can go short or take a very negative stance about it because from these levels generally one see good amount of buying emerges."

He further added, "I would be watching for signs of accumulation and then a sign of a breakout from here, one can sort of go long and once the momentum comes in, then you can buy. But at these levels it is not advisable to go short in sugar stocks

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2 queries on Balrampur Chini

buy - What about the ongoing court case?...
Very soon it Has reached Rs. 85!!!! - One commentator told to sell below Rs. 95/- but no...

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