Diwali is fast approaching. As Indians we all love to splurge on sweets for loved ones.
However take a look at the below futures chart of Renuka. Short term Moving averages have converged on sell side,
Fibonacci confluence zone of 203 has already made a short term top.
From the chart the area to be watched out for is next fibonacci confluence level of 190. Closing below 190, Renuka can fall to 168 and 140 from the above
chart. Amazing that this is happening in diwali time. Hence i would like to call it 'the curious case of renuka sugars'.
No comments:
Post a Comment