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.
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.
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.
Keep on radar! Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
One of my fav small cap cement stocks..started nibbling on this..will go bigger above marked price..