It all started on Feb 24 - When Sugar made a large candle move - the biggest single day gain in 23 years.
Why everybody is talking about Sugar today? https://t.co/GMUxr6dlPP
— Deepak Singh (@smarket) February 24, 2016
I have explained this in Science of Stock Price Action - A Big Candle move is generally the start of the Bull run and not the end of Bull run.
No wonder - Sugar has made such a large move since Feb 24 after a gigantic move on Feb 24.
Here's how Sugar stocks in India responded to this move -
This is EID Parry - 27% tradeable rally since Feb 24
This is Triveni - 28% rally since Feb 24
There are many sugar stocks that have made strong bullish move. It is expected that many of them might rest over next few days/weeks and it can turn out to be great opportunity to accumulate for more gains over next 3-6 months.
One should keep an eye on Turnaround opportunities which happens with a large candle move.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers