1.Downtrend 2.bearish signal 3.at critical support trade only on downside breakout
Ramco Cement has taken a good resistance from a monthly Resistance level of 770. Price has formed strong bearish pin bar on daily Chart which shows sellers are gaining control for a short time. Sell after retracement near 755 for risk reward ratio of 1:2.5
INVERTED CUP AND HANDLE SHORT LOW BELOW 704.05...SL725.60
Buy near the red support line. Hold for a target return of 25% in 3 to 6 months. Stop loss can be placed 5% placed below the red line.
Www.techno-funda.com CMP 798, CBSL 767, Targets 820, 830, 840
Since right now The Ramco Cements Ltd. is trading in its resistance zone so from now the share price of ramco would start falling .