Member's post – Sugar to go up
I am an ardent follower and admirer of Orpheus Research. I was checking the $DJASB (DJ Sugar Index) and noticed a possibly 2 year double bottom on sugar ETF index. This is could be largely positive for stock. I noticed that the top of index (Dec 09) odd and is similar for Sugar stocks. Plus all sugar stocks have been badly beaten down, something like either wave a or wave i of a larger degree down wave. Seems, that these stocks are poised for bounce, which can be fast. Just as an example attached Bajaj Hind Chart and similarly, the chart of Balrampur chini has the same story.
Let me know, your thoughts on the same.
Regards,
Vivek Marne
The Sugar decay