Indian cement strong bullish pattern for long entry. On weekly & monthly chart strong bullish candle is visible at BO level of 120. If this BO sustains for some time then surely go for long with target of 135 to 140 for positional & swing entry. Earlier, stock has seen rejected twice from the same level ( May-19, Feb-20) . Lets wait and watch for the BO or else history repeats as volume level is low at this time. Will look in next week trading session. Keep the stock in your watch-list.
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INDIACEM trade ideas
India Cements Ltd. - Wait for the BREAKOUTIndia Cements Ltd. is consolidating in an INSIDE BAR from Mar' 30th candle and fresh momentum to be seen break either side of the range 96-112.
Presently the stock trading right at 50 SMA and likely to see short term bounce until it stays above 96-97 zone.
Keep a watch.
IndiaCem Buy Setup!IndiaCements Stock looks good after a 50% retracement from the recent rally. The stock could start going higher from current levels or retrace a little more till 61.8% fib levels and then going higher towards the target of 95 and 100. Keep a stoploss just below 75 levels.
#indiacements #nifty50 #nseindia #bseindia
IndiaCem : Setup Overall the medium term chart is still bearish
having fallen from 220 to 70 levels
but on short term charts it has made a good move near 80 rs
One can buy it here with stops near 70 for targets of 90 rs in few days
All will also depend on the small and mid cap movement in the market.