🍬 Shree Renuka Sugars Ltd – Bullish Divergence with Strong Volume

Volume 🔹 Price Action Shree Renuka Sugars jumped +14.88% to ₹32.58, marking a strong recovery from recent lows. The rally was supported by a significant surge in volume, indicating renewed investor interest after a prolonged downtrend. 🔹 Technical View Support Levels: ₹24.60 (major support), ₹30 (near-term support) Resistance Levels: ₹36.70 (immediate), ₹40.00 – ₹45.00 (major hurdle zone) Indicators: RSI at 52.66 → showing strength after a bullish divergence. Price broke above the falling resistance trendline, confirming a reversal attempt. Strong volume breakout suggests accumulation. 🔹 Strength & Weakness ✅ Bullish RSI divergence → momentum turning positive. ✅ Strong volumes at breakout confirm institutional activity. ⚠️ Major supply zone between ₹40 – ₹45 could lead to near-term resistance. 🔹 Outlook As long as the stock sustains above ₹30, outlook remains bullish. Upside potential: ₹36.70 → ₹40 → ₹45 in the short-to-medium term. Sustained breakout above ₹45 could trigger a larger trend reversal. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.