RAMCOCEM trade ideas
RAMCO CEMENTS Lifetime BreakoutRamco made a lifetime highs a while ago, re-testing it a few times before.currently in the breakout/ reversal zone.
RAMCOCEM has formed Bearish EngulfingGo Short on RAMCOCEM as its formed bearish engulfing. AND cracked OBV shows that major players have sold the stock as it was range bound since few days.
Short RAMCOCEM at 705. Target 695 with SL of 710
The Ramco Cements Breakdown From ChannelTargets: 639-616 Sell range : 683-673 Stoploss : 709 Duration : 3-4 weeks
Rationale : :
Attached Daily timeframe chart of The Ramco Cements is indicating a bearish trend reversal, as the stock price has given a negative breakout from an upward sloping channel, with sudden rise in volumes.
The attempt to move up in the last couple of months have been failed and the stock price has now shifted into fresh decline during this week.
Technical indicators are currently giving negative signals as the stock trades below the short term (13 day SMA) and medium term (50 day SMA) moving averages. Momentum indicators like the 14-week RSI are in decline mode and at 43 are not yet in oversold territory.
Daily negative swing indicator like -DMI has been dominating and is moving up consistently. Daily trend strength indicator like 13 period ADX is turning up from near 16-20 levels.
Normally, ADX turning up from near 16-20 levels could be considered as a beginning of fresh trended move in the underlying on either side.
Negative overall technical set up in this stock is hinting at the possibility of a beginning of downside momentum in the stock price from here.
We believe the stock has the potential to move lower in the coming weeks as it attempts to test its previous intermediate lows.
We therefore recommend a Sell at CMP and selling more on any rises. Our entry levels, along with stop loss and targets have been mentioned above.
ramco stock is in up trend
and giving a fresh break out
one can look into the stock at current levels
for target towards 720/740
Ramco Cement can build some profit for you! Heading upwards perfectly taking support of parallel trend channel. Already trading above downward trend line!
Upward breakout above 700 levels to show some more gains up to 715 levels in short term.
1. Expected Boost For Cement Industry "Ramco Cement"Ramco Cement: Accumulate Qty for Mid term and Long Term.
Time Duration 6-10 Months Target 775-839-905 Cmp 689
Reasons:
Government's policies are expect to give a big push to development of Roads and Highways, Railway Projects, Smart Cities Development, etc..
Low Debt, Management focus to increase market share
Ramco Cement Sell on Rise The stock is on short term pull back so sell on rise with Stop 704 for Target 661/663.50
Cheers
RAMCOCEM Long positionalNSE:RAMCOCEM
RAMCOCEM Long positional
Entry @ 636
Stop Loss @ 625
Target 1 648
Target 2 660
Short Ramco CementShort Ramco cement in the range of 578-580.
Stop loss 585.
Target - 562
Trade is active.
