RENUKA trade ideas
little bit correction pointsEverything mention above the chart..
My technical view:
Avwap and EMA Long open and long future but the stock unfortunately previously just little bit Gap up did that gap filled that time Ready to Long rally .
Now cmp -32.60 coming month end of touch buying zone( 24 to 25)
Target- 44.30( waiting period 3 month)
Sl- below 22 ( day closing)
Shree Renuka looking goodShree 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.
Long Renuka Sugar...High Probability SetupRenuka Sugar
Cmp - 33
Stop - Nil
Expectation -
T1 - 45
T2 - 60, Review at 60
Expected Holding Period - 3 months or earlier for T1, 5 months or earlier for T2
View:- Swing/Investment
Breakout with upper circuit Friday closed at upper circuit. I expect it'll gapup and hit upper circuit again. High momentum move is expected from here. I'm also in this trade. Let's wait and watch.
renuka trying to break out of the consolidation shree renuka sugar is trying to break months of consolidation with resistance and levels marked
Target 420%Entry will be on Friday if the current weekly candle closes above the previous weekly candle high. Stoploss will be the low of the current weekly candle. Target is mentioned in the chart.
Renuka Sugar - Cup & Handle Strong Sugar demand across would has picked the sugar prices much higher. Cup & Handle pattern seen in the charts. wait for strong numbers and pull back from Renuka Sugars
Renuka SugarOnce trendline is broken it can give good up move. Here SL should be kept more as its a smallcap company. SL can be kept below 23
Renuka Sugar - Parallel channelThe price is moving in a parallel channel. Can enter now and the target would be the blue line i.e. around Rs. 31.55.
RENUKA - Buy The DipSugar Stocks has given a good rally in the last few months. They Some stocks have corrected a bit.
Buy From 18.5 - 19
Sl 15 (CB)
Target - 30 40 50
Renuka taking support after break outRenuka sugar has done breakout from 7 years range and now taking support at 34 to 36 range. may accumulate , it will touch 50 soon.
* remarks: this is for educational purpose only. contact your financial advisor before taking any trade.
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!
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**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.
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renuka sugars bullish crablong in cash for target 31.85
stop loss 22.45
trade and invest at your own risk
Renuka Renuka (M):- 28.1 Looks good for more upside:)
1) Multiyear Breakout soon :)
2) Huge Volume spurts
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 .
RENUKANote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
