India Cements has given breakout from triangle pattern on daily chart.
Volumes were 3X on the day of breakout. Continuation of breakout seen today
Try to go long in India cements between 125-127 for targets of 135-138 and SL at 122.75.
Take long trading above support level with +ve candle. if able to break TL then it will confirm to take long entry. Entry above 119 TGT 131-135 SL 114. Good risk to reward. This is for your educational purpose only.
share of india cement on daily chart is in momentum & try for the BO level of resist.zone , Can take long entry above the price of 118 for the next target level of 125-130. SL level is 109. RSI is also showing +VE divergence . Volume of the stock is also good. So add the stock in your watch list to see the price action movement .
Always do trading as per your...
Though R.Damani has picked up a stake... but chart pattern is depicting another story. It may take a few months more to develop into the full structure.
So if considering long term, please be on a cautious note till the pattern negates.
Head & Shoulder in the making!
Key Levels for Stock :
Please trade with caution and consult your financial adviser before trading.
IndiaCements Stock looks good after a 50% retracement from the recent rally. The stock could start going higher from current levels or retrace a little more till 61.8% fib levels and then going higher towards the target of 95 and 100. Keep a stoploss just below 75 levels.
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