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RENUKA

Renuka Sugar (RENUKA) Breakout Potential: Target 53+Renuka Sugar (RENUKA) appears poised for a significant breakout, with the potential to surge beyond the 53 mark. Currently trading around 42, the stock has been consolidating within a range, showing signs of accumulation. Here's why this breakout scenario is compelling: Breakout Confirmation: The stock has been testing the resistance level at 42 multiple times, indicating a strong desire from buyers to push it beyond this point. A decisive breakout above 42 would signify a shift in momentum towards the bulls. Volume Surge: Observe the volume dynamics accompanying the breakout. A substantial increase in trading volume concurrent with the breakout would validate the move, suggesting strong participation from traders and investors. Technical Indicators: Key technical indicators such as the Relative Strength Index (RSI) and Moving Averages (e.g., 50-day or 200-day) should be monitored. A rising RSI above 50 and a bullish crossover of short-term moving averages above long-term averages would support the breakout thesis. Fundamental Catalysts: Keep an eye on any fundamental catalysts driving the stock's momentum. Positive news such as strong earnings reports, expansion plans, or favorable regulatory developments could fuel the breakout further. Price Target: Upon the breakout, the immediate target is set at 53. However, depending on the strength of the breakout and prevailing market conditions, the stock could potentially aim for higher levels. Traders should adjust their targets based on evolving price action. Risk Management: Always implement a stop-loss strategy to mitigate potential losses in case the breakout fails or reverses. Monitor the broader market sentiment and sector trends, as they can influence the stock's movement. Consider position sizing according to your risk tolerance and portfolio allocation. Remember, trading carries inherent risks, and it's essential to conduct thorough analysis and exercise caution. Keep a close watch on Renuka Sugar (RENUKA) for the breakout confirmation and potential follow-through towards the target of 53 and beyond.
NSE:RENUKALong
by CyborgTradingHub
RENUKA | Swing Trade📊 Details Incorporated in 1995, Shree Renuka Sugars Ltd does manufacturing and refining of sugar, ethyl alcohol, ethanol, generation and sale of power Disclaimer: This analysis Is intended solely For educational purposes And does Not imply that I am a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 Explore Further Analysis & Trade Setups 🔍 For additional technical analysis and trade setups, I invite you to follow me on TradingView: www.tradingview.com
NSE:RENUKALong
by Munish_Jain
Elliott Wave Insights: Shree Renuka Sugar Ltd - Bullish OutlookHello Friends, Welcome to our Elliott Wave analysis and technical indicators overview of Shree Renuka Sugar Ltd (RENUKA). In this analysis, we'll explore the Elliott Wave perspective and how it aligns with various technical indicators to support a bullish sentiment in the stock. Please note that this analysis is for educational purposes only and not financial advice. Let's dive into the details. Completion of Larger Degree impulse wave (1) and then correction wave (2). Based on the Elliott Wave principle, we've witnessed Shree Renuka Sugar Ltd undergo a larger degree wave cycle. The stock completed waves 1-2-3-4-5 as subdivisions of larger degree wave (1). Following that, corrective waves A-B-C formed as subdivisions of larger degree wave (2). This suggests that the corrective phase might be over, potentially heading the way for a new impulse wave. In line with the Elliott Wave structure, there are indications that the stock is entering the initial phase of a fresh impulse wave. If this assumption holds true, it could signal a renewed bullish momentum in the stock's price. possibly we are in the beginning of a fresh Impulse wave may be we are in wave (i) of 1 of (3). Possible Elliott wave structure and counts on daily time frame Adding to the bullish case, stock has experienced a breakout on the daily timeframe. Breakouts signify a decisive breach of a key resistance level, indicating a potential change in trend direction. The accompanying strong trading volumes during the breakout add validity to the move, suggesting a significant market interest. Breakout on daily time frame along with good intensity of Volumes Weekly price closed above 20-Week Moving Average (20WMA) On the weekly timeframe, the stock's price has consistently closed above the 20-week Moving Average (20WMA). This indicates a positive long-term trend and reinforces the potential for further bullish movements. Weekly price closed above 20WMA which is good sign for bulls Daily Price Above Key Moving Averages - 50DEMA, 100DEMA, and 200DEMA On the daily timeframe, stock trading above the 50-day Exponential Moving Average (50DEMA), 100-day Exponential Moving Average (100DEMA), and now has closed above 200-day Exponential Moving Average (200DEMA). The alignment of these moving averages above the stock's price is considered a bullish sign, indicating a strong trend. Daily price closed above 50DEMA, 100DEMA, and 200DEMA which is good sign for bulls MACD positive in daily MACD positive in weekly Conclusion The comprehensive analysis combining Elliott Wave principles with technical indicators supports a prevailing bullish sentiment in Shree Renuka Sugar Ltd. The completion of a larger degree correction and the potential beginning of a fresh impulse wave suggest positive market sentiment. Moreover, the breakout on the daily timeframe and strong volume support reinforce the potential for further bullish movements. However, always remember that no analysis can predict future price movements with certainty, and the market carries inherent risks. While this analysis aims to provide a well-informed perspective, it's essential to acknowledge that the future performance of the stock cannot be guaranteed, and prudent risk management is advisable. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RENUKALong
by RK_Chaarts
11
YR 2022 Idea #135: Long on RENUKAThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. Our objective to help anyone who wants to learn technical analysis using charts by demonstrating my real trade entries. You can post your queries in comment section here and we will try to answer them asap.
NSE:RENUKALong
by onerighttrade
SHORT-TERM BULLISH in RENUKA SUGARS !!!#MONDAY> <#SHORT-TERM> NSE:RENUKA { Why SHREE RENUKA ??? VOLUME during this month is comparatively higher than past 4-5 years volume...(On Monthly candles); its net profit has been increased drastically from quarters to quarters; good news is being seen sugar industries; it's earnings is going to be announced next month (May 28); Be careful It's a PENNY STOCK; } { BUY: Renuka sugars Trigger price;-"60-62"; TARGET:-72++; SL:-55; The above provided levels are provided based on our RISK-MANAGEMENT !!! } } HAPPY TRADING { Follow for More exciting trades.. @VK2413 Show your ❤️by 👍to the idea.. Please express your response by comment.. }
NSE:RENUKA
by VK2413
RENUKA | Ready for 15%+ Move ?NSE:RENUKA Cmp : 41.25 Target : 47.50 Stop Loss: 37 Risk Reward Ratio = 1:1 Closing Above 48.5 may Blast #Study, Learn & Earn. If you love this post please like and comment your thoughts below. That will be a great motivation for me to post similar ideas ahead. Disclaimer: All the information posting on this page are for the educational purpose only, we are not SEBI registered financial advisor. We wont recommend any BUY/SELL of stocks. Contact your financial advisor before taking any action.
NSE:RENUKALong
by Art_of_charting_Knowledge
5
Renuka Sugar- Rounding Bottom Breakout- Trading Near RetestShree Renuka Sugars Ltd is an agribusiness and bioenergy corporation present across the sugar value-chain. It produces sugar, ethanol, power etc. Sugar: Co. has state-of-the-art fully integrated sugar mills to manufacture sugar. Molasses, bagasse and press mud, produced as by-products, are further used to manufacture value added products. Co. has six mills in India with a total capacity of 36,500 TCD and two port-based sugar refineries with a total capacity of 5,500 TPD. Power Generation: Co. has a capacity production of 567 million Kwh of power, 49% of which is captively consumed within its plants and the remaining power is sold to the state electricity grid. Most of its cogeneration process is based on renewable energy, which provides a significant reduction in GHG emissions. Ethanol: Co’s distilleries manufacture potable grade alcohol and fuel-grade ethanol that can be blended with petrol. It has a production capacity of 730 kilo litres per day (KLPD). It also provide turnkey distillery, ethanol and certain sugar process equipment and biofuel plant solutions through its subsidiary, KBK Chem Engineering. Revenue Split Sugar- 80% in FY21 vs 93% in FY18 Ethanol- 11% in FY21 vs 5% in FY18 Cogeneration and others- 9% in FY21 vs 2% in FY18 Geographical Split Domestic- 36% in FY21 vs 30% in FY18 Exports- 64% in FY21 vs 70% in FY18 Branding The co is a market leader in the packaged sugar segment in India, marketing its products under the Madhur brand. Future Plan The co plans to invest around Rs. 6,500 Mn to expand their ethanol capacity from 720 KLPD to 1400 KLPD. It endeavors to become a green energy company with a focus on production of biofuel ethanol.
NSE:RENUKA
by StrategicAlpha
Shree Renuka Sugars - Long Shree Renuka Sugar Buy Range:14.7 - 17.65 Upside Target: 19.55, 22.4 Support Levels: 14.7, 13.85, 12.3 Can buy on dips. Good for long term investment. Chances for multi-fold returns. Good Luck! *** You can also see my other stock analysis and the results in my profile ideas. Please follow me , If you would like to see more ideas on winning stocks. *** **Disclaimer: I am not a SEBI registered consultant/Advisor. It is completely my view and opinion. My intention is not to provide any financial advice, training advice, or any type of advices or any recommendations on stock buying or selling. Please do your own research and consult with your financial advisor before taking any action. I am not responsible for any of your action on buying or selling or holding the above mentioned stock or/and index. ****
NSE:RENUKALong
by pmosesoliver
1
Renuka Sugar : One more Sugar Company Breaking OutSugar as a sector has been rallying and have been popular amongst the trading community for a few months now. The multiple benefits that the sugar industry are now realising from the producing sugar are being discovered at large by the general investing commmunity. Sugar Industry has been stable for the last few years and now looks for a rerating due the following reasons: 1. Both the buying (raw material sugance) price and selling price (sugar) are fixed by the govt, providing a stable margin for sugar companies to work with. This eliminates unplesant surprises of lower sugar prices. 2. Sugarcane produces molases which can be further used to produce ethanol and alcohol. Both of which can add additional revenue for the industry. 3. The bagasse the left over of sugar cane can be used to generate power. The left over bagasse is able to generate more power than what is required by sugar companies so they are able to sell excess power for more revenue. In the past one year sugar companies have delivered excellent returns and looks good for more. Renuka Sugars have given a fresh breakout on the weekly chart after a 8 - 10 month long consolidation with a substantial increase in volume. If market remains favorable we can expect Renuka to continue to do well in the coming months. PS: This is a weekly chart so the investment horizon should be 6 to 12 months. Exit when the stock price gives a close below the 20Week EMA. you can track the performance and update for all active published ideas here .
NSE:RENUKALong
by tarangmht
3
RENUKANote: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions... 4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks... Keep an eye ladies and gentlemen. Cheers and Happy Trading
NSE:RENUKALong
by SENSITRADE_T