Shree Renuka Sugars - Investment
Price is trending up, taking the support of the trendline and it has formed a rounding bottom in weekly chart. There are two possiblities. Plan A : Price may sustain 58 - 62 with volume and move to 68,74 and 80. Or it may form a handle,retest the trend line and then from trend line support, will move upside. If the handle formation is bearish and break the trend line, fall below 48 - 52, then buying is not advisable. Plan B : If the price stays above 52 with bullish strength during handle formation, can go long with the stop loss of 49 for the targets 57, 64 and 70.
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