The stock is testing it's strong resistance zone and if breaks and sustains 205 level (carry only on day closing basis), positional targets would be 210, 218 and 224.
Learn & Earn,
Dr. Tanya Kumar
India Cements looks good after breaking a falling resistance trendline on weekly chart and gives a close above so we can consider it is breakout of triangle resistance trendline and after a breakout of falling resistance trendline we can go long in it for the target of 202 and 216 taking stop loss of 183 below a weekly candle close.
TARGET AND STOP LOSS
𝑵𝑶𝑻𝑬-...
India Cement has taken a good monthly support and shown good volume in last few days after CSK wins in IPL. if crosses above 204 and stables, can touch ATH soon.
Fundamentals - March sales are good YoY
INDIA CEMENTS weekly downward channel breakout and inverse head and shoulder breakout point. If it sustains above 202 in the day chart it will reach 216
Taken support on Fib Retracement 0.618 levels which is supposed to be called a GOLDEN RATIO
Also taken support on 50 MA on DTF
20-50 Cross over
long Build up positions
75 min Bullish Divergence also noticed
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Swing Trade Idea levels for 22nd May, 2023 and its upcoming week
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3....
Possible bottom formation in the stock INDIA CEMENTS , with chart making a higher low cleary showing new buyers coming inthe stock looks good to be bought above the resistance levels of 190-195 for targets of 215/230 in coming days . PS : Price has to breakout above and sustain above the resistance , view changes if breakout fails
Downward sloping trendline breakout may happen in India cements.
Enter at any daily candle with downward rejection OR Start adding between 180-185 price range if you spot a hammer candle in 1H time frame.
Book 75% on TG1, trail the rest.
