Thursday, December 22, 2011

Renuka Sugars Technical chart | 22-Dec-2011

 Here is a technical chart of Renuka Sugars Ltd., listed on Indian stock exchange, with ichimoku kinko hyo indicator.

Renuka Sugars Technical chart
Renuka Sugars Technical chart

This chart is also in downtrend. Leave kumo, it tried to cross kijun-sen line several times, but faced string resistance there. Kijun-sen line is blue line in the above chart. So, do not make hurry to buy the stock even at these levels. Wait for it closing above kijun-sen line to buy it  i.e. above 50. Next resistance will be at 70-82.

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