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Special Technical Report: Coffee & Tea Sector -
Special Technical Report: Coffee & Tea Sector
HDFC Sec | Published: 04 Jul, 2016  | Source :

Coffee Futures Continuous - CMP 144.85 cents/pound (Intercontinental Exchange, US)

- The coffee chart is showing bullish evidence for short to long term as per Japanese candle stick, western technicals and Elliot wave theory.

- The monthly chart holds the base trendline and is showing strong rebound from the supports which is initial bullish sign.The key oscillator KST shows buy sign on monthly chart, this is highly reliable indication. Even in the past it has indicated buy sign 3 times over two decades. (Check the Arrows and consecutive up moves)

- As per Elliot wave, coffee has completed “wave i & ii” and “wave iii” is in progress initially towards 180 & 220 which are 61.8% and 100% projection levels.

- In simple words, Coffee Price is likely to rise by 25% , 50% from the current price in next 1-2 years, this could result in more than proportionate rise in coffee and tea plantations stocks in 1-2 years.

- Buy 1/3 qty of shortlisted stock at CMP and accumulate in 10 & 15% fall. Hold for 1-2 years; investors could get handsome return. Stoploss for the trade is 120 (On closing basis in Coffee price).

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.