RENUKA - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.5

Here’s a detailed technical analysis of Shree Renuka Sugars Ltd. (RENUKA)

📊 Trend Analysis

Current Trend: The stock is showing signs of a short-term reversal from its recent downtrend. Price has rebounded from the ₹25–₹27 zone and is now trading above the 50 DMA but still below the 200 DMA.

Momentum: Mildly bullish. RSI at 60.2 and MACD at 0.41 suggest upward momentum, but not yet strong enough to confirm a sustained trend.

📈 Moving Averages

50 DMA: ₹30.8

200 DMA: ₹33.5

Current Price: ₹32.0

Interpretation: Price is above the 50 DMA but below the 200 DMA — indicating a potential reversal, but not a confirmed uptrend. A close above ₹33.5 would strengthen the bullish case.

📉 MACD & RSI

MACD: Slightly positive, indicating early bullish momentum.

RSI: At 60.2, approaching bullish territory but not overbought.

Conclusion: Momentum indicators support a cautious buy-on-breakout approach.

📊 Volume Trends

Current Volume: 2.04 crore

1-Week Avg Volume: 65 lakh

Interpretation: Significant volume surge suggests strong accumulation, possibly institutional interest or speculative buying.

📉 Bollinger Bands

Price is likely near the upper band, which may act as short-term resistance. A breakout above ₹33.5 with volume would confirm trend reversal.

📌 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 30.8 50 DMA, short-term support

Support 2 27.5 Recent swing low

Resistance 1 33.5 200 DMA, key breakout level

Resistance 2 38–42 Previous consolidation zone

Resistance 3 56.5 52-week high

🎯 Entry & Exit Zones

Optimal Entry: ₹30.5–₹32.0 (on pullback with volume confirmation)

Exit Zone: ₹38–₹42 (partial profit booking), ₹55–₹56.5 (final target if breakout sustains)

🔍 Summary

Trend: Reversing from downtrend

Momentum: Mildly bullish

Bias: Cautious accumulation

Short-Term Strategy: Accumulate near ₹30.5–₹32.0 with breakout confirmation above ₹33.5. Target ₹38–₹42 initially, with potential for ₹56.5 if momentum builds.

Let me know if you’d like a visual chart setup or a swing trade plan based on this!

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