Head & Shoulder pattern formed at the top of current rally is suggesting a reversal now. It is trading below the neckline so one can short the stock and look for the target of 140.
It is been observed on Daily and Weekly Chart that the price action breaks and closes above the resistance level of o 165 levels on daily and weekly chart indicating further bullish move up.
I believe the stock shall further move up to 180-200 levels within few months.
I shall be updating a trade once I see a good opportunity to enter again with right risk and...
all southern based company showed tremendous sales volume even in demonetisation , india cement one of them , fundamentally very strong, technically as u can see trend as well as volume both suggest a fast move till 200, hold with 165 sl
INDIACEM - Break-out from month long consolidation - Higher level expected.
Looking for next target of 130 and then 135.
SL will be 115 on closing basis.
Stock tested its first support area where price has completed its 61.8 retracement also has a structural price support. if stock hold this support area we can see positive divergence very soon.
Hourly Chart India Cement, Post a decent up move. Its consolidating between a triangle.
Where do you see it breaking out.
On upside, Break of 158 levels with Volume should take this stock to 163.
Watchout
India Cements has run-up a lot after the results (and even before) & it might face resistance at its previous strong support at 146. One can short here at 146 now or below 146 on confirmation of a red weekly candle with a SL of 149 and a target of 128
