CMP - 168.60
Support - 165 & 158 levels (always consider 10% +/-)
Resistance - 180 & 186 levels
Weekly Charts (Long Term)
20, 50 & 100 is perfectly aligned
Candles have been taking support at 20 since 4 weeks now. This means that the 20 level will not be broken easily.
is in the zone but there is no clear indication of the next move.
is dropping down towards the 50 levels but is currently in the zone.
*Long term investors can start to accumulate India Cements
(Medium to Long Term)
The 20, 50 and 10 are aligned properly.
Candles are taking support on the 50 instead of 20 . This can mean that a little push with big volumes can make a drastic reversal on the upside.
is in the zone but is weak.
has just slipped below the 50 mark. This creates a confusion because the prices could fall if continues to linger below 50 or a reversal can show the stock new highs.
*Investors can enter in long positions here as the risk to reward ratio looks promising.
Hourly Charts (Short to Medium Term)
The candles are very close to the first support of 165 levels so risk to reward ratio here is fantastic but don't forget that there is a major support only at 158 levels.
is showing a reversal. Notice how the red volumes bars are fading and getting smaller and the blue line has crossed the orange one and is heading towards the bull zone.
manages to confuse me here as it is trading sideways in the bear zone below the 50 mark.
*Should wait for a minor dip and make long positions as is the only indicator that is confusing.
15m Charts (Intraday or Positional Trade)
The 5, 10 and 20 has made a cluster and are on the way to break the downtrend.
The has a strong reversal but is still trading in the bear zone but the bars are in the green. This enhances the confidence in the strength.
is still struggling with the 50 mark but positive points beat the 1 negative which is the .
*Investors should wait for a reversal / uptrend confirmation and enter long positions. There is a breakout level at around 195 so if you are patient and can hold on, we might see new highs coming in a few days.