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...
The chart and drawings are self explanatory.
Ramco has just broken its all time high, supported by decent volumes. The stock retested its resistance, which is a good sign for the stock towards extension of the rally.
Positional traders can take a position at the current levels, with a stop loss at ~325 levels.
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Don't rush to get in to the trade until and unless if you find weekly strong candle to close above 330 level.
Short term to long term holding can lead to target of 390.
In current week good volume came same like it was in Oct 2016.
Looks promising to buy for short term.
Short Term Quick Profit
SL : 977
Timeframe < 60 Days
Can hold for longer time
BULLISH WEDGE BREAKOUT
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
It's moving in a channel and making higher high. Stock is in a bullish trend. After many days of consolidation and range bound movement, It has broken range with a good delivery volume. We can expect price movent till 300 in the near term. Also closing above 300 will confirm channel breakout and further, it can give a price target of 350 in the mid-term.