The scrip is consolidating near resistance and there is a high possibility of breakout from the range. This can be a good short term bet, Keep in radar.
In SHREECEM complex wave-b is finished now it is running for wave-c. The first target will 32000 and if it goes for 61.8% then it will be 36500, if it extends to 138.2% then target will be much higher. Minimum time for this move will be end of Nov-2021.
Shree cement is forming head and shoulders pattern in daily time frame, if it breaks down neckline then it can show more down fall, and above neckline if it survive with rsi above 40 in hourly time frame, then only it can go for further up moves towards blue resistance line , between black neckline and blue resistance line it could be a sideways, and breakout...
Shreecem Monthly/Weekly/Daily/240 min 19250-17831
pro:
1. m/w/d/240 co-inciding levels
2. 2 exciting candle 240 min
3. 2 daily exciting candles
4. 25% inside monthly zone origin
con:
1. level over levels, so execution zone in 240 min is fat
2. not much explosive move in execution 240 min
3. origin of the move is other 75% apart from the monthly location...
