As some notification has been coming from government on exporting sugar
and as per the international rates this would be a key factor for sugar
companies to increase their margin. Shree Renuka
is one of the biggest producers of sugar
and likely to get most benefit. Technically, Shree Renuka
has breakdown the descending trendline
and given close above the same. As per the descending channel
prices are likely to higher and touch higher band of channel. Price target comes around 20% higher then closing prices.