manavtechresearch
Long

INDIA CEMENTS a good stock for range trading

NSE:INDIACEM   INDIA CEMENTS
stock has just moved above its crucial level of 172.90 which is the weekly support level as well as a crucial daily support
Watch the RSI indicator closely as the stock has formed a new support at 164.25
Currently by the looks of it one can say that the stock might be trading in a "RECTANGLE"
Levels between 164 to 196 indicators suggest that
Indicators
macd gaining little bit of positive momentum
Rsi has bounced from its oversold zone perfectly
50-weekly moving average is currently at 168 which the stock crossed this week
"TRADE VIEW"
One can execute a long position in this stock at current levels
with a stop loss @163.25 for a target of 195
Trade active: PLEASE DO NOT PANIC ON INDIA CEMENTS DUE TO THE NEWS ON PETRO CHEMICAL CEMENT SECTOR HAS TAKEN A HIT KEEP OUR ORIGINAL STOP LOSS AND LOOK TO EXECUTE THE LONGS
Trade active: AS SAID YESTERDAY HOLD ON TO YOUR POSITION KEEP OUR ORIGINAL STOP LOSS AND LOOK TO EXECUTE THE LONGS
Trade active: !!PATIENCE IS THE KEY TO SUCCESS!!
HOLD ON THE STOCK
OR EXECUTE FRESH LONGS
BTST
@174
@172.50(S)
@179
Comment: !!PATIENCE IS THE KEY TO SUCCESS!!
WE HAVE CROSSED ABOVE OUR 174 OLD TRADE OF BUY CMP WHICH WAS POSTED ON 18/11 IS STILL ON.
BTST TARGET ALMOST ACHIEVED BUT HOLD ON FOR 179
Trade closed: target reached
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