rkvsenthil

INDIACEM :: (Study) Channel lines, Key FIB & S/R Levels

Long
NSE:INDIACEM   INDIA CEMENTS
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Entry 211 - 215..
Initial StopLoss 189
Read about Risk management before taking any position.

Technicals:
-- LONG Buildup & nearing very key Breakout levels.

-- Price is making HH & HL & breaking many resistance levels in the last few weeks.

-- Very Bullish once the price sustains above FIB 3.618 level (price 211+) ..

-- This level is important coz the share price will cross :
:: 52 weeks high
:: 4 Months+ correction (or accumulation) high
:: as well as 4 years High

Current Fundamentals:
- Last one year Earnings & Margin are 4 years of high

Caution : Smallcap stock... Prefer allocating <5% of your capital. And consult your financial advisor to know more about the risks associated with buying / selling shares.
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Trade active: Entering with small position and will add on retracements, if price sustains these levels.
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