Buy Dhampur Sugar, target Rs 171: Hadrien Mendonca

We expect the stock to rally towards its potential target of Rs 171 in the medium term, says Hadrien Mendonca of IIFL.

Moneycontrol Contributor

October 12, 2018 / 11:07 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Hadrien Mendonca

Dhampur Sugar has been going through an impressive phase of accumulation since April 2018. After consolidation for over five months, the stock has finally broken out from a Rounding Bottom pattern on the daily chart.

The price outburst has been accompanied with a smart uptick in traded volumes. We expect the stock to rally towards its potential target of Rs 171 in the medium term.

Disclaimer: The author is a Senior Technical Analyst, IIFL. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Moneycontrol Contributor

first published: Oct 12, 2018 11:07 am

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