After Nifty and Titan completing successful double bottom's as per my earlier post's , it seems to be Heidelberg Cement's turn to follow suit.
Perfect double bottom pattern formation although still not confirmed on closing basis. It made a high above the peak of 123.45 . RSI & MACD both showing postive divergence on daily charts make this stock to be put on radar tomorrow.
Target price : 139
Stop loss : 112
Revise Stop Loss to 119
Revise Stop loss to 115 (The earlier Stop placement of 119 may get hit because of whipsaw). In case it closes below 115 we may see a fall till 101 which would be a very good level to buy.
Stop triggered @ 115. However, today's deliverable quantity stands at 25,62,614 (93.8%) compared to total traded quantity of 27,32,148. There was a spurt in volume by more than 7.9 times. Trader's with high risk profile can stock up till levels of 101 which is a crucial support level.