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k m sugar mills

Discussion in 'Fundamental Analysis' started by shahil_141, Dec 28, 2016.

  1. shahil_141

    shahil_141 New Member

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    shahil_141, Dec 28, 2016
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  2. mdsafdarimam

    mdsafdarimam Active Member

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    technically good bet. support at 16. multiple breakouts at 22 & 24. beauty of breakout. fresh buying is recommended only when it crosses 32 on closing basis. till then wait & see it's movement. hope your query is answered.
     
    mdsafdarimam, Dec 29, 2016
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  3. shabbir

    shabbir Administrator Staff Member

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    I avoid yet another player for investment and yet another sugar mills have no pricing power of its products and so it is better to be going with players who can produce at a low cost.
     
    shabbir, Dec 29, 2016
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  4. bhat64

    bhat64 Apprentice

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    Fully agree with Shabbir. If I was you and badly want to be in sugar I would choose Balrampur Chini, market leader, low cost producer, time tested company, available at attractive levels with peer Bannari Amman. Now this is fundamentally. Also technically I avoid stocks that have had a wide upward divergence from 200 day SMA. Meaning I avoid anything that has run up too fast. KM sugar and Upper Ganges, Dalmia have run up like that. So I avoid. DCM Shriram industries is another good sugar play valued attractively. Disclaimer - I hold stocks of DCM Shriram industries and now tracking Balrampur for an entry. @ Shabbir please correct me on any of my technical points, not an expert technician.


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    bhat64, Dec 29, 2016
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  5. shabbir

    shabbir Administrator Staff Member

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    You are not wrong and I have similar explanation but based on different calculations and its not that one is correct and other is wrong but things work well for me this way.

    So if a stock has runup, it means it has not formed a support in between from where it started its up move and so the stop loss becomes too high and so becomes a no trade sone for me.

    As an example support for stock is from 80 Rs. Now stock was trading at around 88 and was a good buy with 8 Rs as stop loss and target of 98 which is more than the stop loss of 8Rs. Now stock runs up to 101 without forming a good support and so now with a stop loss of 80 the amount that I am ready to loose is 20+ Rs which is too much for me to be trading in this stock.
     
    shabbir, Dec 29, 2016
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  6. bhat64

    bhat64 Apprentice

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    bhat64, Dec 29, 2016
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  7. shabbir

    shabbir Administrator Staff Member

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    I am sure you will.
     
    shabbir, Dec 29, 2016
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  8. bhat64

    bhat64 Apprentice

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    With little I know in technical analysis, today I saw a break out with huge volume in my sugar pick DCM Shriram Industries

    Is this a cup and handle? IMG_0631.JPG


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    bhat64, Jan 11, 2017
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  9. mdsafdarimam

    mdsafdarimam Active Member

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    NO , it is not a cup and handle pattern. in cup & handle pattern , the cup is shaped as a "U" & the handle has a slight downward drift. here neither is a cup nor is a handle. in nutshell ,it can be said there is no pattern.
     
    mdsafdarimam, Jan 11, 2017
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  10. Suresh_Sinha

    Suresh_Sinha Active Member

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    I can say being part of this community helped me read charts much better than ever.
     
    Suresh_Sinha, Jan 18, 2017
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