Renuka Sugar 20th Nov 2015
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Renuka Sugar Share Price today corrected after making a high of 18.05 Nse Cash Levels Mentioned. Regular readers and our clients know that we have been very bullish on the stock since past 2-3 months and we have initiated our buying / accumulation call in Renuka sugar at 7/8 Rs. Now the first round of upmove seems to be done and on dips we will once again be accumulating for longer term we are not recommending Renuka Sugar for short term trading.
We once again recommend to accumulate the stock on all dips as we are very clear that Renuka Sugar will be one of the best performers in percentage returns over the next 24 months and all dips / panic must be used to entry fresh long positions in the stock. Some investors / traders think that Renuka Sugar news or fundamentals will not support the bullish move from here on but we do not see major time wise or price wise downside for the stock. As per our analysis of the stock currently Renuka Sugars Share price is under going wave 1-1-3 and a minor pullback is on the cards but we must be using the pullback to enter fresh long positions as the upper side targets we way too significant.
As per astro cycle analysis we reiterate that raw sugar prices are headed up at least over 200 percent form current prices and going forward we see this helping realizations. Also once of the Major Triggers we see as per astro cycle for Renuka Sugar is decontrol of sugar before Dec 2016 and when decontrol happens the entire picture for sugar stock / sugar sector will change rather transform overnight. Besides decontrol of sugar we also see one time debt waiver package by Govt of India to Indian Sugar Companies and that too will reduce serviceable loans further this will boost bottom line profits to a great extent. In short we reiterate sugar will be the best performing sector over next 2 years and within the sector we see Renuka Sugar as a major outperformer.
Good Trading To You!