I am posting this from one of the follower's request on Twitter.
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.
On Monday if stock goes below 960, we can short this trade for the target of 930.
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
Target- 1078, 1130, 1204
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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.
Long Ramco between the range 935-940 for the target price of 1010 with SL of 915. Stock is expected to take the support as stock is trading in the support & resistance level
This is for your educational purpose only.
Ascending Triangle formation in 30 min TF
CMP - 963.40
Target - 1000
StopLoss - 950
1:4 risk reward
For Short term trade
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1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
Note: This is for educational purpose only and do not trade F&O options based on this analysis.
There seems to be a bullish breakout post W pattern formation with high volume. Similar breakout can be seen on RSI as well. RSI above 65 indicates bullish momentum.