SWING IDEA - SHREE RENUKA SUGAR
Updated
Renuka Sugars, a leading sugar manufacturer in India with a strong presence in ethanol production, is showing a promising swing trade setup.
Reasons are listed below :
Target - 65 // 75
Stoploss - daily close below 45
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Reasons are listed below :
- 53 Zone Breakout: The 53 zone, a previously strong resistance, has been breached, indicating potential upward momentum.
- Bullish Marubozu Candle on Daily Timeframe: A bullish marubozu candle has formed, reflecting strong buying pressure.
- Crossing 52-Week High: The stock is crossing its 52-week high, signaling strength and potential continuation of the uptrend.
- Volume Spike: A noticeable increase in volumes suggests strong market participation, further supporting the breakout.
Target - 65 // 75
Stoploss - daily close below 45
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade closed: stop reached
stoploss hit : -15%
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