Star cement is consolidating in a tight range since 15th Nov 2023. If it manages to give 2 consecutive day close above FIB level of 174.4 then it should move fast towards 1) 177.45 2) 181.9 3) 190 4) 196 5) 199. Below 162 it will become weak.
STAR CEMENT (1D)
CMP 164.80
Stock price has given breakout of Downward trending channel
Flag & pole pattern breakout
Cement sector looking bullish
Stock can give upticks from here
Star Cements Ltd is engaged in manufacturing and selling of Cement Clinker & Cement. It sells its products across north-eastern and eastern states in India. It is the largest cement manufacturer in North-east India.
🌟-Fair amount of contraction seen on daily chart.
🌟- Breakout above 160 Support 150
🌟- Price Respecting 20 & 50 EMA
🌟- 50% Upthrust seen in stock...
A nice giant saucer bottom has formed over a span of more than 5 years.
Expecting a small handle formation before blasting off towards it's technical target of 240+
Good to enter around 130 levels for a target of 240 with SL below 115.
84.6% ROI with 1:7 R:R
Stable fundamentals.
Do your own due diligence before taking any action.
Peace!!
Star Cement is making positive moves. Trading above 140, will consilidate in range of 140-150. Beyond it can be a black horse in blue sky zone. Keep on watchlist.
Star Cement can Break Out anytime the Falling Trend Line after 5 years on Monthly Chart. Price has got good hold and showing strength.
SL - 90 looks good on a weekly chart as pullback occurred for the first time.
Initially it may test 120 levels at the earliest (safe side) or can be higher and subsequently can achieve 136 target.
I bought Star Cement
Manual trend is bullish
Bullish crossover between 100 and 200 EMA (not complete)
Bullish crossover in RSI
SL around 95
T1 115 / T2 open
Star cement trading below 200 ma. Once price cross 200 ma resistance then easily go to 130 inr. Fails comes to 76 . Keep eye on 200 ma resistance trade plan to Reduce loss.
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Expected to go up from hereBuy near 104
SL 102
Tgt 108-114-117-119
Support further down 99 - 96- 95 - 94
making a W pattern
Must Correlate yourself also on charts before taking an entry. This is for Educational purposes only. Please consult your Financial advisor before investing.
