Renuka Sugar

02/11/2011 20:29

Shree Renuka Sugar is showing strength.  After making lower low, it is now moving to make higher high.  The gap up move to breach the down trend line and 2-3 days consolidation befitted the scrip is on the verge of trend change.It is worth to observe, how it reacts on its first resistance level of Rs 60-62.  This is the acid test for the scrip. If market supports then, it has ability to reach Rs 66-69 level and then Rs 75 level.