The charts shows sign of positivity.
the technical indicators are also bullish for the stock. short term pull back may occur.
Suggesting to Buy with confirmation above 133INR
The India Cements Ltd. - DAILY
The stock looks quite strong in charts and presently consolidating in an inside bar candle and in a narrow range which is usually followed by expansion in the share price.
We may see short term pullback to the breakout area to 110 but the breakout on strong volume above swing high of 124 may infuse further strength in the...
On weekly & monthly chart strong bullish candle is visible at BO level of 120. If this BO sustains for some time then surely go for long with target of 135 to 140 for positional & swing entry. Earlier, stock has seen rejected twice from the same level ( May-19, Feb-20) . Lets wait and watch for the BO or else history repeats as volume level is low at this time....
India Cements Ltd. is consolidating in an INSIDE BAR from Mar' 30th candle and fresh momentum to be seen break either side of the range 96-112.
Presently the stock trading right at 50 SMA and likely to see short term bounce until it stays above 96-97 zone.
Keep a watch.
India cements started trading above its 20 EMA channel.
Recent hike in volumes shows interest of big players.
Buy India cements with CMP 104.4 with the stoploss of 95 for the swing of 2 to 4 months.
Target 1 - (116-120)
Target 2 - (145-155)
Target 3 - (200-225)
Stock was clear bullish for the past weeks and was expected to move up for the next days up to or above the monthly resistance wait for a clear PCC to form above the weekly resistance
