BALAJI AMINES - STEPPING INTO STAGE 2 ?

The leading amine manufacturing company stocks had seen a huge down move of 50 to 60 percent. Of late many of these stocks have seen smart recovering. Leading stocks like alkyl amine, Vinati organics etc. crossed above the short-term moving averages. 200 DMA and moving up. Another stock in the group Balaji Amines has also started moving up now. After making a bottom it is now started making higher highs and Higher Lows. It also crossed above the short-term moving averages. The last few sessions we saw a huge momentum coming in with a huge Buy Wave pushing the stock above the 200 DMA. We can see that the relative strength and the absolute strength are also positive with the money also flowing into the stock. Now it is safely out above the 200 DMA with all other parameters looking positive. There is also good committed buying seen looking at the delivery volumes. The current momentum is likely to push up the stock further along in line with the other main amine manufacturing stocks.