Balrampur Chini: Stay invested
On the daily and weekly charts, the stock has formed a strong bullish Higher High and Higher Low series. The incremental volume activity near the breakout level indicates high chances of a fresh uptrend from current levels.
Currently, the stock is trading well above the short-term as well medium-term averages which advocates an uptrend wave likely to continue in the near term.
For the positional traders, Rs. 360 would be the key level to watch out. If the stock trades above the said level the momentum could take the stock towards Rs. 400-410.