India Cements has been on sell side pressure after hitting 52 week at 232. But the stock has been on long term bullish trend consolidating within the channel since 2020 covid lows. Currently the stock is in slight bearish mode, since it recently made higher lows and lower highs. It needs to close green above 202 for consecutive 2-3 days for trend reversal from bearish to bullish, then we can expect the long term bullish channel trend to continue.
Trade closed: target reached
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It hit above 250 and pulled back slightly. If momentum doesn’t hold expect the pullback toward 210-200