TODAY INDIA CEMENT BROKE OUT ITS LONG CONSOLIDATION AND ALSO MADE NEW 52 HIGH MEDIUM TERM TARGETS 200++.SPECIAL POINT TO NOTE IS THAT DID NOT FELL EVEN TOUGH NIFTY INTRADAY SELLOFF.
India Cements has given breakout from triangle pattern on daily chart.
Volumes were 3X on the day of breakout. Continuation of breakout seen today
Try to go long in India cements between 125-127 for targets of 135-138 and SL at 122.75.
Take long trading above support level with +ve candle. if able to break TL then it will confirm to take long entry. Entry above 119 TGT 131-135 SL 114. Good risk to reward. This is for your educational purpose only.
India cement IN THE FORMATION OF INV H&S ...LEFT SHOULDER FORMATION AND THAN MA BE CONSOLIDATION FOR SOME TIME ONCE IT COMPLETES ITS PATTERN ...THAN A NEW UPTREND WILL START....EVEN CHK THE VOLUME PATTERN
INDIACEM | Sort of Wedge & Flag (Weekly) patterns.
-20% potential is there upside.
-Risk reward is good before the breakout.
-Taking good trendline support
-1:4 risk reward setup
CMP : 118 (Good buy upto 115)
SL : 110
Target : 140
#INDIACEM WEEKLY CHART VIEW
The India Cements Ltd. is trading right above the weekly support zone and likely to stay positive until it stays above 110-112 zone.
Likely to see short term consolidation in 110-125 zone and breakout only above 127 on daily closing basis .
Technical parameters looks neutral to positive as of now.
Keep a watch.
Pennant pattern formation in INDIACEM. Look for breakout and take trade accordingly
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
