JK CEMENT 4403-4580-4840 SL 3950-4150 ZONE

Jun 9

JK Cement Ltd. is an interesting chart with following

1. RSI on daily and monthly above 60
2. Narrowing Bollinger Bands and price Walking on upper Band on daily charts

3. Price crossed above 20 Week SMA last week forming a hammer
4. ABCD pattern under formation on weekly chart
5. Increasing relative strength on both benchmark and sectoral index
6. Price gain with rising volume

Can be a good risk reward to buy on dips and dips only with major support near 3950- 4150 being 20 D/W SMA and 4027 being 50 DMA and next resistance being 4403-4580 -4840-5160 zones

Lets See How it evolves

Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.