It's been almost 15 trading sessions and during these 15 sessions we witnessed a decent bull run in this Cement Stock. The stock has surged by almost 800 points during these 15 trading sessions. However, the volume levels weren't looking promising enough to support the surge in price of the stock indicating a lesser participation of investors/traders which can be considered as first signal of trend reversal. Also, the weakness was visible in the stock as the day ended with a candlestick pattern of "Shooting Star".
We may see a trend reversal in short period of time which may bring the stock upto the levels of 5714-5710 levels. A stop loss can be considered at 5879 level.
In Trading/Investing it is usually advised to go along with the trend, but it's equally important to keep a check on the levels of Volume.
The above analysis is just for educational purpose. Investors/Traders are advised to do their own reasearch while making any investment decisions.
We may see a trend reversal in short period of time which may bring the stock upto the levels of 5714-5710 levels. A stop loss can be considered at 5879 level.
In Trading/Investing it is usually advised to go along with the trend, but it's equally important to keep a check on the levels of Volume.
The above analysis is just for educational purpose. Investors/Traders are advised to do their own reasearch while making any investment decisions.