Ichimoku Cloud Broken
Price Retraced After Good Upmove
All The Leading Technical Indicators Positive
Cement Stocks In My Buying Scanner
Buy Ramco At Cmp 902
SL - 860 ( Day Closing Basis )
Target - 1055/1135
Ramco Cement is forming a flag and pole pattern on the weekly charts and there is a bullish moving averages cross over.
Stock has been consolidating for a month and is trading in a 40 points range. The break out can give good 150+ points as per the measure target.
Indian markets are trading near the ATH and stock will follow the indices.
On the daily time...
Trading Style- Positional
Strategy- MCC ( Momentum + Consolidation + Confirmation )
Buy Above Breakout Candle High
Stoploss Below Breakout Candle Low
Target Should be 1:2
Note: All the details are provided on the chart itself
Check updates regularly regarding this trade idea
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.
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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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.....