Shree Renuka Sugars: “May go to ₹50 if it stays above ₹25” – Does it make sense?Shree Renuka Sugars is a cyclical sugar & ethanol company, so price action + fundamentals both matter here.đš 1. Why ₹25 is a critical levelFrom a technical point of view:₹25 acts as a major psychological and structural supportEarlier, price struggled around this zone → now it’s trying to turn resistance into supportIf the stock:Closes above ₹25Holds above it for weeks (not just one day)then probability improves for a trend continuationp
đ Shree Renuka Sugars: “May go to ₹50 if it stays above ₹25” – Does it make sense? Shree Renuka Sugars is a cyclical sugar & ethanol company, so price action + fundamentals both matter here. đš 1. Why ₹25 is a critical level From a technical point of view: ₹25 acts as a major psychological and structural support Earlier, price struggled around this zone → now it’s trying to turn resistance into support If the stock: Closes above ₹25 Holds above it for weeks (not just one day) then probability improves for a trend continuation đ In simple words: Above ₹25 = strength Below ₹25 = caution đš 2. Can it really go to ₹50? Yes — but conditionally, not automatically. đ Technical logic ₹50 is a round-number target It aligns with: Previous long-term resistance zones A potential 2× move from a strong base Such moves usually happen in phases, not straight lines đ Expect pullbacks, consolidations, and time correction. đš 3. Fundamental support (very important) Shree Renuka’s stor...