The chart is self-explanatory as always :)
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INDIA CEMENT: Momentum Stock
This counter is showing VCP(Volatile Contraction Pattern).
This may see Momentum, when it crosses 275.
SL as 20 SMA (Weekly Close Below)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by Me.
As per my analysis. INDIACEM is in uptrend. Important levels (SL) will be 256.00 for conservative trading, for Investor can hold with 232 to 216 SL on day closing.
First Target will be 298 to 302
Second Target 365 to 375
Please do your due diligence before trading or investment.
Thankyou.
The cement stocks have had a great 2023 and many are looking to carry the run forward into 2024 as well.
India Cements was spotted displaying a minor Wave I from Nov 1 till Dec 14.In this wave the stock swiftly moved 35% up in a short time of 1.5months
Wave II was a 38.2% retracement of the wave I.
Between Dec 21 and Jan 4 the stock completed a leading diagonal...
#INDIACEM has been moving in a range of 245-275, traders can play the given range or can wait for a breakout/breakdown in the stock and then positions can be made, short only once the stock has a hourly closing below 245 and long only above 275 hourly closing!
Apart from some negative result .. Turning story change the sentiments .
Annual Revenue up by 15%, Debt to Equity 0.55 , Quarter net profit up by 29%, Mutual fund holding increase by 1.10% in last quarter. SL 245 Weekly close below buy for 282-293-302-335
After 335 review more.
P.N.: Its educational purpose . Not SEBI research analyst.
Triple 3x fomation at 265
1) Trendline support on monthly time frame
2) triple fomatin on weekly fomartion
3) trendline breakout on daily timeframe
target 380 short, 480 long on monthly time frame.
As we can see in the above analysis that breakout of H&S pattern has been done on INDIA CEMENT and what i'm waiting for is the retest at the neckline to take it to the upside.
Target - 280
*India Cements Ltd*
C&H Formation on Weekly Basis.
Price BreakOut. Need to Sustain.
Strong Vol BuiltUp.
Trail SL with Upside.
Book Profit as per Risk Appetite.
Do Your Own Research as well. This is an Opinion.
Happy Investing 😇
The scrip has formed a volatality contraction pattern . Had given a breakout and then took rejection from ATH. Now it has formed a higher low and again going towards the ATH. This time it should probably break the ATH and make good upward move.
NSE:INDIACEM for Long Term Buy above 193 , average till 188
Technical :
Entry Candle close above 193, average till 188
SL 180
T1 205
T2 223
T3 241
Trendline Breakout
RSI Bullish Divergence
Consolidated and created strong base
Supportive Evidences and clues for long
c) super vwap and super trend set up (SS)
d) pole and flag set up
e) Renko and Rainbow long(RR)
QQE positive (Q)
Therefore it is Q(SR)2 set up or simply QSR set up.
f) Weekly breakout
SL compulsory
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