🕗Updated at 9:00 PM IST 10 March 2026
At Chanakya Ni Pothi, India’s oldest investment & IPO research weekly with a legacy of 33+ years, we bring you fresh “Power Calls” from Paresh Gordhandas — actionable stock recommendations before market opening.
Paresh Gordhandas Power Call – Balrampur Chini
Balrampur Chini closed at Rs. 506.45, registering a strong gain of 2.81% in the latest session. The stock has delivered a sharp 10.5% rally in the past week and nearly 14% in one month, indicating renewed buying interest in the sugar sector counters.
Technically, the stock has broken above its upper Bollinger Band (Rs. 498) and is currently trading above all key short-term moving averages including 20-DMA (Rs. 470), 34-DMA (Rs. 451) and 50-DMA (Rs. 444). This confirms that the recent move is backed by strong momentum.
The MACD remains in bullish territory with positive histogram expansion, while the ADX at 40.88 signals a strong trending phase. Momentum indicators such as RSI at 68 and CCI above 150 also suggest aggressive buying interest, although the stock is now approaching near-term overbought territory.
The Parabolic SAR positioned at Rs. 450 continues to support the ongoing uptrend, indicating that dips are likely to attract fresh buying interest.
However, the stock is currently approaching an important overhead resistance zone near Rs. 517–528, which corresponds with key pivot resistance levels.
Trading Strategy
Preferred Strategy – Buy on Dips
| Action | Level |
|---|---|
| Buy Zone | Rs. 500 – Rs. 505 |
| Stop Loss | Rs. 486 |
| Target 1 | Rs. 528 |
| Target 2 | Rs. 546 |
Technical View
A sustained move above Rs. 517–528 resistance zone could trigger the next leg of rally toward Rs. 546–558 levels. As long as the stock holds above Rs. 486 support, the broader short-term trend is expected to remain positive.
Chanakya Technical Insight
Despite medium- and long-term trends still being bearish, the stock has witnessed a strong technical reversal backed by improving momentum indicators. Traders may look to accumulate on dips for a short-term positional upside move.
Vaishali Parekh‘s stock recommendations
| Vaishali Parekh |
Intraday Recommendations for 9 March 2026 |
| 1] Canara Bank: Sell at Rs.147, Target Rs 142 Stop Loss Rs. 150; |
| 2] HAL: Buy at Rs.3960, Target Rs.4200, Stop Loss Rs.3900; and |
| 3] Castrol India: Buy at Rs.185, Target Rs.190, Stop loss Rs.182. |
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Paresh Gordhandas is a distinguished Chartered Accountant and one of India’s most respected Research Analysts, with an illustrious career spanning over 35 years in equity and mutual fund research. Recognized as a pioneer in the field of investment analysis, he has guided generations of investors with his sharp insights and unbiased evaluations of the Indian capital markets.
He is a regular face on leading business news channels such as GS TV and others, where his expert opinions on stocks, IPOs, and mutual funds are highly valued. His analytical articles frequently feature in prominent investment publications and financial portals, reflecting his deep understanding of market dynamics.
Beyond research, Mr. Gordhandas is also a successful entrepreneur. He is the driving force behind several innovative ventures, including BigGaddi.com, India’s leading used commercial vehicle platform, and StaffAvailable.com, a reputed overseas recruitment portal. As a domain expert in mutual fund analysis, his views and recommendations are exclusively featured on Sahifund.com, one of India’s growing mutual fund research platforms.