Plantation sector chart

[The Invisible]

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I found this sector chart is an encouraging one. Similar to Banks, Manufacturing & Diversified sectors this one too had entered into bullish territory two weeks ago but unlike to others this one still remains within neutral RSI range but has reached to a level where it achieved only in last January this year. So may be chances are coming week more investors shifting their positions from heated Banks, Diversified sector stocks to plantation sector. Also interestingly last time too when plantation sector enters to its overbought territory ASPI was in Red and moving downward.

Fingers crossed.

[dhanurrox]

Friday interest was there on many plantation companies specially BALA MASK MADU LDEV

[CKActive Member]

Is there any particular reason for a plantation wake up? (Other than pumping?)

[yellow knifeTop contributor]

First half tea output hits 5 year high.

Mirror Business 22July 2019

[sereneTop contributor]

With the results around the corner, We have to play smarter if we are for Short Term. And few red days might hit sectors like plantation more than the other sectors.

[The Invisible]

Is there any particular reason for a plantation wake up? (Other than pumping?)

Its random I think. When Retailers see something is about right to move they will establish positions. Plantations is one sector where Retailers can create a rally even in short term.

[The Invisible]

[You must be registered and logged in to see this image.]


I found this sector chart is an encouraging one. Similar to Banks, Manufacturing & Diversified sectors this one too had entered into bullish territory two weeks ago but unlike to others this one still remains within neutral RSI range but has reached to a level where it achieved only in last January this year. So may be chances are coming week more investors shifting their positions from heated Banks, Diversified sector stocks to plantation sector. Also interestingly last time too when plantation sector enters to its overbought territory ASPI was in Red and moving downward.

Fingers crossed.

Update after initial notice

Plantation index moved down by 9points on Monday after ASPI lost 50+ points but today gain by 20 points well supported by 20+ points upward movement of ASPI.

BOPL, MAL-X, MASK, BALA,HOPL & MADU appreciated by more than 10% today.

The encouraging factor is that RSI for the sector still remains @ 70 level which means that the sector still has got more gas if the market pushers still want to move the sector.

Over 100k in volumes traded in counters such as BALA, MAL, MADU, LDEV, MASK & KOTA.

Also there are some positive news on the industry
a) Reduction of tea export levy
b) Government willingness to extend the lease period
c) Possibility for foreign investors to invest in more land mass of these plantation companies