The Curious Case of Renuka Sugars

[jerrytechnicals]

Diwali is fast approaching. As Indians we all love to splurge on sweets for loved ones.

However take a look at the below 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'.

 

[prakashreddy]

Diwali is fast approaching. As Indians we all love to splurge on sweets for loved ones.

However take a look at the below 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'.

What is the connection between Price of Renuka Sugar Equity Shares and Diwali?

 

[sumosanammain]

What is the connection between Price of Renuka Sugar Equity Shares and Diwali?

Renuka sugars deal in firecrackers .... thats why????

As for sugar consumption, what do u feel the wholesalers wait for diwali eve to buy their stocks? Thats done 2 to 3 months in advance.

Tha

 

[jerrytechnicals]

Govt of india on 24th of august 2009 has barred all large consumers of sugar from keeping more than 15 days of stock. 15 days stock means less than 10 quintal which would be too less even for a medium scale mithai producer. Hence the name 'curios case of renuka sugar'.

 

[sumosanammain]

Govt of india on 24th of august 2009 has barred all large consumers of sugar from keeping more than 15 days of stock. 15 days stock means less than 10 quintal which would be too less even for a medium scale mithai producer. Hence the name 'curios case of renuka sugar'.

Govt of India also asks people to pay taxes on theor income
And big people dont pay tax on more that 2 % of their income
Get the point?

If 10 quintals is the max, then how come sugar worth 45 crores was seized form a warehouse in punjab?

Grow up

 

[jerrytechnicals]

sumosanammain,
Thanks for the very enlightening and deeply enriching views.

 

[jerrytechnicals]

We all saw the turn around in Renuka as diwali is approaching. From a low of 180 it has crossed 210. This was exactly what i meant by 'CURIOUS CASE OF RENUKA SUGARS'. Sometimes, even technicals charts will not show the full picture. Application of common sense is equally essential.

 

[sumosanammain]

We all saw the turn around in Renuka as diwali is approaching. From a low of 180 it has crossed 210. This was exactly what i meant by 'CURIOUS CASE OF RENUKA SUGARS'. Sometimes, even technicals charts will not show the full picture. Application of common sense is equally essential.

Most shares are up 10 to 15 % in these days

So, maybe yes bank sells diwali sweets and firecrakers at its branches on the side?
Dabur sells diwali farsan? its up 10 % in these days too

YEsterday must have been a bumper day for suzlon for its diwali toran sales as it was up a lot

And Tata tea sales for diwali must have picked up at around 3:27 pm, as it jumped at that time
MEans some few people must have bought their diwali tea requirements at around that time right?

Common sense huh?

 

[leo_3455]

Most shares are up 10 to 15 % in these days

So, maybe yes bank sells diwali sweets and firecrakers at its branches on the side?
Dabur sells diwali farsan? its up 10 % in these days too

YEsterday must have been a bumper day for suzlon for its diwali toran sales as it was up a lot

And Tata tea sales for diwali must have picked up at around 3:27 pm, as it jumped at that time
MEans some few people must have bought their diwali tea requirements at around that time right?

Common sense huh?

:rofl::rofl::rofl:

(sorry jerry, couldnt stop)