why is this sugar stock not going up as vicicously as other sugar stock. Sugar prices have touched rs 30 per kg. That is amazing news for a stock like EID PARRY. Especially I think south india based sugar companies will benefit more than north india based. pls comment.
Your concern is right. But this stock has developed a pattern in that it will suddenly go up one day and will not keep the momentum. Moreover, though the RSI is strong, it is now in the resistance level. If it crosses 350 and sustains for atleast 3 sessions, then 400-450 will be its range. We can expect this happen to this particular stock as the festive/marriage season will begin on 17th instant.
Reason of relative slow move in compare to other sugar stocks is slock is a major holding by mutual funs as overhead suplly is more however in due course this will outperforme other stocks looking to capacity of crushing and management quality.
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