The Ramco Cements Ltd.

Dec 25, 2024

The chart of The Ramco Cements Ltd. displays a symmetrical triangle pattern, formed by converging trendlines of lower highs and higher lows, indicating a period of consolidation with decreasing price volatility. The upper boundary, acting as resistance, lies around INR 1,030–1,045, while the lower boundary, providing support, is near INR 800–850. This pattern suggests a potential breakout, where a move above INR 1,045 would signal bullish momentum, while a breakdown below INR 850 could indicate bearish pressure. The breakout target can be estimated by adding the triangle's height (the widest part of the pattern) to the breakout point. Traders should monitor for a decisive breakout or breakdown to determine the next price movement.