Time magazine recently wrote a story on the human addiction. And out of the many addictions, to alcohol, sex and gambling, the write-up also mentioned coffee. And how there are withdrawal symptoms if you stop having your morning cuppa. I would have laughed about this addiction to coffee five years back, but today I don’t. I am a believer, of the coffee cult and the coffee revolution.
The bean has acquired a mega status. Coming from a tea-drinking nation the changeover was not easy. Barista and Cafe Coffee Day did bring a change in me, but it was moving to Europe which did the rest. A daily Espresso was unthinkable five years back, but it’s a part of waking up now. Coffee has got us addicted to such a stage that having Illy coffee and a 1000-dollar coffee maker for home and office are not stupid ideas.
Then there is this revolution which has just begun. You might not have heard of it in your morning newspaper. But the news is that coffee internationally has moved to a new eight-year high. And this is just the beginning. We will not be surprised if the next nine months see the bean moving up at least 50 per cent from here.
Technically, we have a classic rounding bottom pattern which projects targets near $180, up 100 per cent from recent lows at sub-$100. Even MCX Coffee Robusta Spot is at a six-month high above Rs 8000. We consider this a low-risk entry point. Your coffee cup should never be the same again. We are early believers so we ordered our stock on the breakout. You should get yours too.