The idea here is about Shree Renuka Sugar:
Shree Renuka Sugars Ltd is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol. The Products portfolio of the company includes: Sugar, the company manufactures refined sugar confirming to EU standards it is the higher end product consumed by European and African Countries and is...
My Positional view on Shree Renuka Sugar
NSE:RENUKA breaks its resistance.
My long term target view is
Target 1 : 61
Target 2 : 72
Target 3 : 85.70
My Stop loss will be : 44 only
Note: This is my personal analysis, only for learning.
Renuka Sugar consolidating at previous top support since April 2022.
Sustaining the same, the stock is most likely to test its previous high and also go beyond it.
Type of Trade : Positional Long Trade
A very good resistance in breakout in renuka sugar and they also have big support of rsi bcs a good breakout was also done in rsi with heavy buying
Buy it at 51.50
Target 55.60 56.65 59.60 63.20
Sl 41
Symmetrical triangle BO on Renuka Sugars daily chart, after a high of 47.75 on daily TF, the stock had a correction & has been consolidating since august, as per today's closing seems this is a Symmetrical triangle BO.
MACD seems giving +ve divergence, volumes are decent, RSI is around 54, good stock to watch out for in coming days, needs volume & RSI strength to...
