The India Cements Ltd. trading below weekly resistance zone and 200 SMA and likely to stay weak until it stays below 125-127 zone on a daily closing basis.
Likely to see short term consolidation in 110-125 zone and breakout only above 127 and further momentum to be seen above 140 level.
Technical parameters looks positive as of now.
Keep a watch.
It's been chilling for a month since 26th of May when it started its downward movement, looks to me as if a big flag is being painted on the daily with the 50 day moving up to offer support around 115 which i was hopeful for a refill.
Looks like its forming this pattern and is ready to move again .
Intra day hop off around 132.75 since its fairly busy there...
expecting a pull back to 115 zone will fill up if that happens for the next leg up to 161 .
Nothing much to comment , golden cross happening , just feel we are reaching the I'm a genius and can make money in the market stage with people so raise your stops once in profit.
Risk Free trade if you wanna hodl....
Cheers!
Technical Analysis
India Cement is about to make a complete right shoulder toward neckline which is a final stage of head and shoulder pattern. once it would break the neckline of 66-67 rupees, we can see a huge break down of the stock.
Fundamental Analysis
Even though India Cements aims to reduce gross debt by ₹200-250 crore in the current quarter, its repayment...
NSE:INDIACEM has made higher top & higher bottom after long range bound consolidation on weekly chart. Stock has crossed and currently trading above range bound consolidation zone. Stock is also trading above all key moving averages and RSI and ADX are also showing strength on weekly chart.
We are recommending strong Buy around 114-119 with Stop Loss below 97...
WAITING FOR PRICES TO TEST THE ENTRY ZONE. SELL SETUP :)
KEEP IT SIMPLE, KEEP IT UNIQUE :)
HAPPY TRADING, HAPPY PROFIT MAKING :)
NOTE: MY VIEW ONLY....
![INDIACEM: [Positional] India Cements Short](https://s3.tradingview.com/g/gIiu7tCg_mid.png "[Positional] India Cements Short")
