Plantations Index

PLT - Plantations moved into a long rally since late March of this year. It closed yesterday at 1083 area. Whilst the fib extension of the 1st uptrend from Late March to late May, suggests that the 161.8% completion takes place around 1097 points. But the momentum of the counters in the sector is not showing considerable retracements mainly due to the strong growth expectations in this sector, after many torrid and dismal years. However the time is not right to invest into these counters but has a lot of steam for traders. So they should sieze the opportunity and enjoy the ride by keeping strict money management techniques.