The swing lower from oversold levels is similar to the one seen in late May, except for two facts: Firstly, this time, the turn is from a higher level, and closer to record peak. Secondly MACD histogram has registered a sizable dip below zero line.
Sugar stocks rally continues: Balrampur Chini, Dhampur Sugar, Uttam Sugar Mills rally up to 4%. Two big triggers
Sugar stocks rallied as domestic sugar prices surged sharply over the past month. Government data showed retail prices rising from Rs 48.18/kg on July 20