NSE:HEIDELBERG Wait for Weekly breakout or else enter with pyramiding near lower trendlineSafe players can enter the trade on retracement with strict SL.....
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A cup and handle pattern has broken past the resistance trend-line. There have been multiple attempts in the past few months to break the trendline. Finally the resistance has been broken with good volume. Moreover, over the last month, all cement stocks have been seen making HTHB. Heidelberg should also be headed in that direction.
Buy : above 206
T1 : 230
nearing its all time high but currently is on pull back mode to levels of 190 before resuming its uptrend to the top. Breakout of the wedge is crucial.
Will enter the counter at support level for a long trade.
#HEIDELBERG WEEKLY CHART VIEW!!
Heidelberg Cement India Ltd. closed below previous week high.
Technical indicators are mild bullish.
If price trades below weekly low 186 near by support is mid bollinger band 181.65 and 174 resistance is 203 on weekly chart.
This is a public swing trade idea from "one right trade" and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help...
HeidelbergCement India Ltd. engages in the manufacturing of clinker and cement. Its brands include mycem and mycem Power. The company was founded on May 13, 1958 and is headquartered in Gurgaon, India.