This stock thinks i dont know where its going , he he , Look for pull back to enter and ride till Target
there are two possible pull back one will be shallow and then rise quickly , another one will be little deep then rise quickly
enter on reversal near that Area
Good Luck
Regards
Targets : 180-166-156 Sell range : 190-195 Stoploss : 228 Duration : 4-5 weeks
Outlook :
After a second failed attempt to breakout from a previous highs of Rs 226.25 (Touched in mid of May 2017), Indiacem has now corrected resulting into break down from a support trendline joining from 105.10(December 2016), 153(March 2017) and Midpoint levels...
As we can see india cement is forming triangle pattern as same as VEDL formed last month and gave breakout above 248 and now trading around 280 which means it has given more than 12% return in one month Is india cement will repeat the history of VEDL?
India Cements has been in an excellent Bullish Channel for a Long Time now.
Prices are moving in a sideways Channel forming a Triple Top & Ascending Triangle Formation.
However, formation of a Triple Top & confluence of other resisting Trendlines gives us a short-term mildly bearish view.
Sell for Targets of 194/179 levels.
Stop Loss at 214.
india cements had a great performance this year so far and i see potential for a future growth also but after making two high i think its time for some correction in indiacements expecting bearish centiments for coming days with a 40 rs correction and then a bull with tgt 222 and 250 buying opportunity from the level of 160 . sell on the break and close below...
I think charts are enough to understand the direction... :D
Previously, whenever this stock has given Breakout or Breakdown from a range it has given a big move...
Based on, Breakout targets are 225/230/235/240+
SL will be 215
Note: Do your own study before making any position...
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Stock remains in nice uptrend, can initiate long in July futures if breaks above 52W highs (226-27). Pls keep trailing SL accordingly to take advantage of the momentum
