One of the cheapest cement players available by valuations.
Interesting technical setup...
The stock has been bouncing off the 200EMA..there is also a convergence of the moving averages which usually signifies a big move could be on the cards..
Long above 57.25 with a stoploss below 53.50.
KESORAMIND Buy Position on EOD basis
Buy Price -- 49 to 50
Target Level -- 58 to 60
Stop Loss -- 45
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Very high volume from last few weeks also price is moving higher after the breakout. A good build up before the breakout. SL will be on weekly closing basis. Targets are based on the nearest resistances. The time stoploss will be 6 months.
Weekly Chart Analysis:
1. Was trading in falling wedge pattern for 12 years
2. Divergence in RSI
3. Cup and Handle pattern breakout on Weekly charts
4. Cup and Handle pattern breakout on Daily charts. Post-breakout respecting neckline of 90 level.
Good place to long, as slowly moving to close above 100 levels.
Kseromind has formed an Ascending triangle along with cup and handles has already given a breakout with good buying strength. Wait for pullback or retest and enter.
Educational purpose only - trade at your own risk.
Kesoram Industries Ltd. engages in the manufacture and sale of cement. The company operates under the India and Others geographical segments. The company was founded on October 18, 1919 and is headquartered in Kolkata, India.