Shree Renuka Sugars Ltd. (1W - Weekly Time Frame Analysis)
📊 Shree Renuka Sugars Ltd. - Weekly Chart Analysis 📊
🔎 The stock is showing signs of a potential breakout from its long-term downtrend. With this week's 10.25% surge, it's pushing towards key resistance levels.
📉 Key Support:
Strong support at 41-42, where the stock has previously consolidated multiple times.
📈 Key Resistance:
Immediate resistance at 55-56, with a major hurdle around 60-62 if the momentum continues.
💡 Breakout Setup:
Watch closely for a weekly close above 55. If this happens, the stock could move toward 60-62 and higher.
🔄 Volume Confirmation:
Recent volume surge to 313.21M indicates strong buying interest. Sustained volume with a breakout could confirm a trend reversal.
⚠️ Disclaimer: For educational purposes only. Always manage your risk appropriately and conduct your own research.
🔎 The stock is showing signs of a potential breakout from its long-term downtrend. With this week's 10.25% surge, it's pushing towards key resistance levels.
📉 Key Support:
Strong support at 41-42, where the stock has previously consolidated multiple times.
📈 Key Resistance:
Immediate resistance at 55-56, with a major hurdle around 60-62 if the momentum continues.
💡 Breakout Setup:
Watch closely for a weekly close above 55. If this happens, the stock could move toward 60-62 and higher.
🔄 Volume Confirmation:
Recent volume surge to 313.21M indicates strong buying interest. Sustained volume with a breakout could confirm a trend reversal.
⚠️ Disclaimer: For educational purposes only. Always manage your risk appropriately and conduct your own research.
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