📊 Script: RENUKA
📊 Sector: Sugar
📊 Industry: Sugar
Key highlights: 💡⚡
📈 Script is giving Ascending Triangle Breakout as shown in chart.
📈 Script is trading at upper band of BB and giving breakout of it.
📈 Already crossover in MACD.
📈 Double Moving Averages is giving Crossover.
📈 Volume increase along with price.
📈 Right now RSI is around 65.
⏱️ C.M.P 📑💰-...
Forming Negative Divergence on short term chart.
Forming Triple Top.
Key Support Range mark by dark black.
If broken, Expecting price to test the levels of Rs. 50.
If not Broken, view is invalid.
Key is the Support Range. Keep Watching it.
Breakout on RSI and Breakout of Resistance on weekly Chart. My Target would be 68 within next month.
Ethanol story is in the background too.
Note: This share is in my portfolio and there is high chance my analysis is biased. This is not a buying recommendation at all.
NSE: RENUKA SUGAR formed symmetrical triangle chart pattern on weakly time frame supported with volumes. This weak volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.The stock has been moving along the horizontal support for the past few days which is indicating demand.#stockmarket #stocks...
Views about this script has been published by me in the recent past also.
Although, after publishing it, it did not show an immediate momentum as such, I am still having the hope to watch this script around the value area, I have shown in the chart drawing.
One of the challenging comments arrived upon for my earlier post by someone and so I was curious about my...
