Rising Wedge is a bearish Pattern
IF Ramco Cement Break the lower trend line we may further see much more selling this stock
*Only for education purpose*
Trying to form inverted head and shoulder pattern on weekly charts. Once the pattern completes around 800, long for target of 950 and above. Look for volume with breakout.
Ramco cements
Head and shoulder breakout on hourly chart
could be bullish on short term
can be bought at a retest of around 615
Stay tuned for 640 and 650 on short term
RAMCOCEM has formed extended head and shoulders on 1D chart along the 920 baseline. Breakdown from here can be significant hence caution suggested for longs. No fresh shorts yet as the trendline is not broken. If the baseline is broken, the stock can see a measured move fall toward 750.
NSE:RAMCOCEM
I am posting this from one of the follower's request on Twitter.
Observations:
1) On daily time frame, we can see it took Good support from 50DMA and gave breakout of 1050 level.
If it gives dip till 1040/1050 level and takes support from it then it will be buying opportunity.
Target will be 1140.
Please refer below chart : 1day Time Frame....
There is a strong support at the level of 963, stock tested this level two times.
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On Monday if stock goes below 960, we can short this trade for the target of 930.
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What's your view on this comment below in the box.
Ramcocement LONG (18 Oct)
Symmetrical triangle breakout
Above average volumes on Friday and today
Buy at CMP -1021
SL-980
Target- 1078, 1130, 1204
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Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
My personal view on this.
There is one trendline give support to ramcocement stock.
That trendline is in weekly timeframe and stock is consolidate in daily timeframe as well near to trendline.
Whichever side it will break stock will give good return.
probablity is it can break upper side. NSE:RAMCOCEM
The scrip respected the support line many times and made it the strongest support line. Wait for this stock to hit the support, Go for long.
Note: Since it sharply respect the support ur stop loss can be very near to the support line and this makes this a Low-risk trade.....
The Ramco Cements is attempting to breakout of a range formed over the last ~5 months. The stock breached the Supply Zone today and closed around the Supply zone. If it breaks above the level tomorrow and holds, can give a good upmove as it is nearer to it's ATH.
![RAMCOCEM: Simple Trade Setup | RAMCOCEMENT | 01-11-2021 [ INTRADAY]](https://s3.tradingview.com/x/xt9uMq8C_mid.png "Simple Trade Setup | RAMCOCEMENT | 01-11-2021 [ INTRADAY]")
