Shree Renuka Sugars Ltd. is recommended to buy at current levels. On charts the stock is looking very attractive, in fact last week I had suggested traders should buy it and that suggestion still remains valid even after today's almost 7.50% gain. From the last week these 3-4% gains sound impressive in terms of percentage but now with their prices it is just Rs 1. So even at current prices Shree Renuka is a buying opportunity. Eventually if this trend sustains, I think it will reach Rs 37-38- or Rs 40, short-term traders will have to look for more modest targets.
Shree Renuka Sugars Ltd. has broken out of a long trading range and its a buying stock even at current levels, keep a stop just under Rs 27 and look for a target of Rs 31 and then Rs 34 for a week.
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