Market is really in bear phase, there is only two stocks in Nifty which has closed in positive but with very marginal gain, Maruti & Cairn are those stocks.Though we are bearish on market, we can’t stop hunting for stocks which shown & going to show signs of rally in coming days.
We find one stock that is India Cement, current market price is 58.
1. Volumes are very good & stock is rising.
2. ADX is above 30 & +DI still has to go above ADX reading. Good sign
3. Long term momentum is (KST) is showing strength.
4. It is maintaining higher top & higher bottom.
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There is one strong resistance near 60, so please go long in India Cement only above 60(closing basis)
Target is 70 & stop loss is 59.
See syllabus for Technical analysis training in Mumbai,India.
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