Can buy with Proper SL
THIS IS MY POINT OF VIEW THAT THIS STOCK WILL DO BETTER PERFORMANCE IN UPCOMING DAYS (NOT TO FORGET THE STOCK HAS GIVEN A 16 YEAR BREAKOUTWITH HIGH VOLUME 5.6TIMES ) I CAN BE WRONG ALSO SO DO YOUR HOMEWORK (THIS IS FOR EDUCATIONAL PURPOSE AND A RECOMMENDATION)
16 YEAR BRAKOUT 3 MONTHS BACK Spurt in Volume by more than 5.64 times do your own due diligence
Levels Mentioned on Chart... Buy only if price Sustain above 60.....
Stock of the Week: #Shredigcem Industry: CEMENT & CEMENT PRODUCTS Sector: CEMENT AND CONSTRUCTION Entry Price: 56.20 SL: 47.40 Position Sizing: 21% Reason: Bounced back from 38.2% and maintain closed above 23.6% Fibonacci retracement zone. NSE:SHREDIGCEM
For 1-day TF, SHREDIGCEM has been facing resistance around 53.75 since 2 months. The same resistance is broken with a decent volume. The target could be 59.5 since this is the next resistance available for SHREDIGCEM. The break-out of the resistance could be confirmed in 5-minute TF in which the resistance (now support) is tested twice.
Note: This is for educational purpose only.
Pure Technical trade. Power Play( Mark Minervini) style
This is a fundamentally strong cement company on a ride to higher levels. But after nearly rising 95% from the level of 22.50 from 8th May 2020, it needs to take a breather, showing negative divergence with RSI. Buy on dips.
If it breaks out then an upside can be expected
This stock although a small cap, has shown significant returns since it's IPO late last year. Wait for a retracement to the marked green line and then build long position.