All Mentioned & Plotted on Chart.
Notice "RISK" & "REWARD".
Not belief in Multi-Beggar Concept,
But in Investment point of View Good for Short - Mid - Long term.
Education Purpose only.
For trade decision consult with Financial advisor.
Shree Renuka Sugars
Stock is giving signs of reversal from important support level...
Sustaining above 13.2 can add momemtum and take the stock to 14.35 in short term
The stock looks good for accumulation from long term perspective also
Do review your trading plan and plan your trade accordingly...
Take care & ...
In one sense it is good that sugar is taking time to melt because it won't affect our health & we can feel its sweetness as well.
From last update- prices has been struggling in the zone 15-16. Likely, we are close to do some trending move upside with key support at 14.90. Initial Target could be 18.40-18.50 & ...
Follow up from previous update- "Renuka Sugar- Looking for small rally & big Fall"-- If RS moves above 17 mark -it will confidence the up move & should carry to 18.50-19 Handle Zone.
Abhishek H.Singh, CMT
In terms of price Renuka Sugar has done nothing since Aug 2015 bottom at 7.10- Its seems that a leading diagonal is forming in sugar- we shall for a small rally to complete the diagonal & then a fall close to 8-10 (retracing almost 80-90%) not below the email@example.com- shall set the stage for fire.