Cement Stocks have been trending since the start of 2019. I have done a comparative analysis of the whole sector. Heidelberg and ACC stand out in the group.
According to Price point analysis, Heidelberg is currently out performing its peers from the same Mcap category
If Heidelberg continues to...
Scrip price action can be seen in symmetrical triangle with lower highs and higher lows. However, the pattern still remains to be connected when the lines converge as they are extended and the symmetrical triangle takes shape. We can always think of it as a contracting wedge, wide at the beginning and narrowing over time.
Expecting the scrip to surpass 52-week...
Heidelberg cement entered upward channel in early March and is respecting it since then. Today it bounced back from the channel bottom. I feel the short term target can be 133 on the safer side which is a small resistance. A close below 125 can be exit criteria.