Stock of the Day – Renuka Sugars

Sugar has been a sector which has been pretty sour to investors for a pretty long time. The trend is still down for most of the stocks in the sector. Renuka is one of the exceptions as it shows a break out of a falling wedge pattern (definitely not a text book case).

Immediate resistance levels are 22.50 and 24.50. 

 Image

Hat-tip: @bhatswati

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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