BUY Setup 🏗️
Entry: ₹1,058-1,065 (Current Level)
Target 1: ₹1,083-1,090
Target 2: ₹1,099-1,110
Target 3: ₹1,123-1,135 (Extended)
Stop Loss: ₹1,036
Technical Rationale:
Breaking above descending channel (blue shaded area) - major bullish reversal
Strong momentum with +1.11% gain today
Price reclaiming 1,060 resistance zone
Breaking above both declining trendlines convincingly
High volume (343.03K) supporting the breakout
Consolidation zone (1,000-1,060) now acting as support
RSI trending upward, showing momentum building
Cement sector showing strength on infrastructure demand
Multiple resistance levels mapped: 1,036, 1,083, 1,099, 1,123
Clear support at 1,000 psychological level
V-shaped recovery from October lows
Risk-Reward: Strong 1:3+ ratio
Pattern: Falling wedge/descending channel breakout - highly reliable bullish reversal pattern
Strategy: Medium-term swing trade - Book 30% at T1 (1,085), 30% at T2 (1,105), trail remaining with SL at 1,065 after T1
Key Levels:
Breakout Zone: 1,060 (critical level crossed)
Strong Resistance: 1,083, 1,099, 1,123
Major Support: 1,036, 1,000, 980
Sector Catalyst:
Infrastructure spending boost expected
Cement demand picking up seasonally
For educational purposes only. Not SEBI registered. Major pattern breakout - manage position sizing appropriately. Cement stocks can be volatile. Conduct thorough research before investing.
Entry: ₹1,058-1,065 (Current Level)
Target 1: ₹1,083-1,090
Target 2: ₹1,099-1,110
Target 3: ₹1,123-1,135 (Extended)
Stop Loss: ₹1,036
Technical Rationale:
Breaking above descending channel (blue shaded area) - major bullish reversal
Strong momentum with +1.11% gain today
Price reclaiming 1,060 resistance zone
Breaking above both declining trendlines convincingly
High volume (343.03K) supporting the breakout
Consolidation zone (1,000-1,060) now acting as support
RSI trending upward, showing momentum building
Cement sector showing strength on infrastructure demand
Multiple resistance levels mapped: 1,036, 1,083, 1,099, 1,123
Clear support at 1,000 psychological level
V-shaped recovery from October lows
Risk-Reward: Strong 1:3+ ratio
Pattern: Falling wedge/descending channel breakout - highly reliable bullish reversal pattern
Strategy: Medium-term swing trade - Book 30% at T1 (1,085), 30% at T2 (1,105), trail remaining with SL at 1,065 after T1
Key Levels:
Breakout Zone: 1,060 (critical level crossed)
Strong Resistance: 1,083, 1,099, 1,123
Major Support: 1,036, 1,000, 980
Sector Catalyst:
Infrastructure spending boost expected
Cement demand picking up seasonally
For educational purposes only. Not SEBI registered. Major pattern breakout - manage position sizing appropriately. Cement stocks can be volatile. Conduct thorough research before investing.
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 TradingView. Read more in the Terms of Use.
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 TradingView. Read more in the Terms of Use.