The above is the chart of Dhampur Sugar and we can see in this chart that the stock is trading above key support zones. As long as the stock is above those supports we are probably looking at the stock making newer highs and continuing the bullish momentum
The Auto sector has made a comeback of sorts and despite the markets correcting has been rallying. Above is the chart of Maruti which has been trading above the key levels and the rally further in the stock hinges upon it clearing out the hurdle it is encountering now. If we see the stock close above the current hurdle then we can look at higher levels in this stock.
A sector which has been really struggling in the last few weeks has been IT. Here we see that Wipro has already broken below the key support level and is trading below it. There is every possibility that the stock sees much lower levels. Only thing that will change the view is the close above the resistance.
The above is the chart again of Dhampur Sugar mills. In this chart an attempt is made to show the pick up in volumes that we are seeing in this rally. This kind of pick up in volumes along with a rally in the prices is generally a very good sign for the stock. The broader markets though show no signs of beginning another leg of rally. Infact the market has a negative bias. That is something that could weigh in on the stock.