Ramco Cement is forming a flag and pole pattern on the weekly charts and there is a bullish moving averages cross over.
Stock has been consolidating for a month and is trading in a 40 points range. The break out can give good 150+ points as per the measure target.
Indian markets are trading near the ATH and stock will follow the indices.
On the daily time frame, the stock is respecting the 20 EMA and is taking good support from it. RSI indicator is showing some negative divergence and is around 50 levels.
Entry :- Above 950
Target :- 1037, 1090
Swing and positional trades can be initiated in the stock. Even short term stock purchase can also be created in the stock.
Wait for the market to show some break out as there is a bullish pattern formation.
Stock has been consolidating for a month and is trading in a 40 points range. The break out can give good 150+ points as per the measure target.
Indian markets are trading near the ATH and stock will follow the indices.
On the daily time frame, the stock is respecting the 20 EMA and is taking good support from it. RSI indicator is showing some negative divergence and is around 50 levels.
Entry :- Above 950
Target :- 1037, 1090
Swing and positional trades can be initiated in the stock. Even short term stock purchase can also be created in the stock.
Wait for the market to show some break out as there is a bullish pattern formation.
