RENUKA - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 2.3

Here’s a detailed technical analysis of Shree Renuka Sugars Ltd. (RENUKA) based on current indicators and price behavior

📊 Trend Overview

Current Trend: Bearish to Consolidating

Price is trading below both 50-DMA (₹32.0) and 200-DMA (₹34.9) — a clear sign of short-term and long-term weakness.

RSI at 37.3 indicates bearish momentum

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.

MACD at -0.48 confirms negative momentum with no bullish crossover.

📈 Chart Patterns & Indicators

Moving Averages

Price < 50-DMA and 200-DMA → bearish structure.

No golden cross or bullish crossover in sight.

Bollinger Bands

Price near lower band — suggests oversold territory but no breakout signal.

Volume Trends

Volume (23.5L) is slightly above 1-week average — indicates mild interest but not strong accumulation.

Support Levels

₹28.5 – ₹29.0 (recent base zone)

₹24.7 (52-week low)

Resistance Levels

₹32.0 (50-DMA)

₹34.9 (200-DMA)

₹38.0 – ₹40.0 (historical resistance)

🔍 Momentum Signals

Short-Term Bias: Bearish

RSI < 40 and MACD negative — weak momentum.

No bullish divergence or reversal pattern visible.

Stochastic & MFI: Oversold conditions emerging

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— watch for bounce signals.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Buy Entry ₹28.5 – ₹30.0 Near support, oversold indicators

Exit Target ₹32.0 – ₹34.5 Resistance at moving averages

Stop Loss ₹27.5 Below recent support zone

🧠 Summary

RENUKA is in a downtrend with signs of consolidation. Technical indicators suggest weak momentum and bearish sentiment. A tactical bounce from ₹28.5–₹30.0 may offer short-term opportunity, but upside is capped unless price breaks above ₹34.9 with volume confirmation. Traders should remain cautious and avoid aggressive positions until trend reversal is confirmed.

Want to explore sugar sector peers showing stronger setups or compare RENUKA’s fundamentals with industry leaders? Let’s dig deeper.

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