Thursday, February 16, 2012

Sri Renuka Sugars

Predicting market isn’t “butter chicken” these days. But I have tried my best to answer your quire "What a student can answer" .. I have given you some levels which are going to be major supports and resistance (some magical levels which are going to be good tops and bottoms).. As you can see the stock had performed bad more than expected..

Right know I want to be neutral on Renuka sugar because MACD have shown bearish indication but, it can make sudden bullish indication.  After stock crossing 51 levels it is having multiple resistances.   

I am not “shy” to use the world “only a god can predict this stock”.. Apart crossing 100D-MA there is nothing positive about this stock..  More over all, market sentiments can change anytime. There is a kind of risk factor..

Note: Don’t buy/ sell any stock on recommendation from friends/relatives/a student like me.. Go with a proper analysis, risk reward ratio and most important a GOOD STOP-LOSS.