Double top formation with momentum on downside.
Renuka Sugar has formed double top formation in daily time frame and Longterm investor should be cautious in this stock as major reversal may happen in this stock.
Momentum on down side is strong as RSI level is below 40 and volumes has been increasing in down trend.
Bullish trade should be avoided in this...
Multiple Higher lows..moving in channel...also cup formation waiting for handle confirmation....after handle formeds and Breakout happend abobe 63.50....it is confirm that this stock goes in long uptrend...
This 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. ...
Renuka Sugars is showing excellent strength in this tough times. Good volume activity is seen over past few months. Stock is testing monthly resistance levels 3rd time and a fresh demand zone is formed at 24-33 levels.
Chart -> Renuka Sugar Daily
The stock has recently broken Descending Triangle resistance line. Resistance is around 50.50, above that, it can move swiftly.
Buy till: 47
SL: 45 on a daily close
Targets: 55, 63
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your...
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...
Shree Renuka Sugars Ltd is an agribusiness and bioenergy corporation present across the sugar value-chain. It produces sugar, ethanol, power etc.
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...
Shree Renuka looks good to go upside
RSI and MACD shows good momentum
if breaks 35 level then we can see 45-47 levels soon.
Bullish triangular pattern formation.
Disclaimer: This is not a recommendation. Pls invest as per your own risk.