Shreecement
Intraday Trade: watch for support breakdownshort below 25700 in Intraday
For stoploss in Intraday use 5 minute chart and see nearest resistance.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapdown or bd before 9:20
If gapdown is more than 1% from bd level than avoid completely.
if less than 1% or gives bd before 9:20 than wait for
first 5 minute candle and entry below 5 minute candle
and revised SL above candle high.
Sideways Channel - Demand Zone reachedShree Cement has been trading in a sideways channel for a long time now and has reached the demand zone.
I am curious to see the results after EMA 9,21 confirmation or after taking a partial position here.
RSI has reached 30 levels and MACD Divergence seems decreasing as well. A strong bullish candle can increase conviction in the swing.
Only for learning purposes.
Shree CementAfter fourth attempt 29700 Leval with the highest volume on 2 Sep. now stock are retesting his level and showing us green candle + 50 EMA Support
For F&O Buy Above 50 EMA Oce Future And Sell 30500-31000 September CE For hedging purpose, After Expiry book your profit or Sell 31000 Oct CE for sefty.
Shree Cement Long positionCement sector as a whole has been subdues in the ongoing bull run. There is also decent accumulation in the price band of 26500-27900. As per the specifics and fundamentals, there is going to be some moderate buying in this sector owing to the RIGHT PRICE.
I would suggest to invest in future and hold till September. Don’t put SL, instead buy if it comes to levels to 25800.
Shree Cement Trade ReasonBreak out with Good volume - Confidence
Next candle with big WICK with heavy volume - Shows the Buying is still absorbing selling
Next two candles Profit booking Because there are big candles but no Volume - Sellers are not Aggressive
So that's the reason for the entry now also is a good one
SHREECEMNote:
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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Keep an eye ladies and gentlemen. Cheers and Happy Trading
watch for range breakout buy above 29515 for swing/ Intraday
for swing trade keep stoploss 28500
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
#SHREECEM .. 25% upside in next 2 monthsAll details of analysis are on the chart..
MACD and RSI are at great levels too for both daily and weekly timeframes..
the superimposition method is just a way to estimate the timeframe of price movement and is not indicative of how the actual price movement may happen.. Be Aware of that..Also, timeframe of trade will be less or more than my estimate.. I don't know the future, it is an educated guess