Balrampur Chini has resistance at Rs 36-40: Mathew

Technical Analyst, E Mathew is of the view that Balrampur Chini Mills has resistance at Rs 36-40. It has formed a nice base between Rs 25 and Rs 28, so for all long positions Rs 28 is a stoploss. The ultimate target for this particular short-term uptrend is around Rs 45.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney
moneycontrol.com

Home » News » Stocks Views

Dec 11, 2008, 01.51 PM | Source: CNBC-TV18

Balrampur Chini has resistance at Rs 36-40: Mathew

Technical Analyst, E Mathew is of the view that Balrampur Chini Mills has resistance at Rs 36-40. It has formed a nice base between Rs 25 and Rs 28, so for all long positions Rs 28 is a stoploss. The ultimate target for this particular short-term uptrend is around Rs 45.

Like this story, share it with millions of investors on M3

Balrampur Chini has resistance at Rs 36-40: Mathew

Technical Analyst, E Mathew is of the view that Balrampur Chini Mills has resistance at Rs 36-40. It has formed a nice base between Rs 25 and Rs 28, so for all long positions Rs 28 is a stoploss. The ultimate target for this particular short-term uptrend is around Rs 45.

Post Your Comments

Share Cancel

E Mathew, Technical Analyst, .
Technical Analyst, E Mathew is of the view that Balrampur Chini Mills has resistance at Rs 36-40.

Mathew told CNBC-TV18, "Balrampur Chini has formed a nice base between Rs 25 and Rs 28. So for all long positions Rs 28 is a stoploss but unfortunately Rs 36 to Rs 40 is a resistance zone. There are multiple resistances here so to buy the stock at this price would not be a prudent decision. I would recommend maybe one could look at it at lower levels keeping a stoploss of Rs 28. The ultimate target for this particular short-term uptrend is of course around Rs 45."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Buy, Hold, Sell ? Hear it first on M3
Balrampur Chini has resistance at Rs 36-40: Mathew

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login