India Cements Reversal Trade

INDIACEM is looking good for a reversal trade as it bounced back from key levels which were the previous breakout zone where good buying was seen with Huge Volumes post the news of ULTRACEMCO acquisition.

About:
INDIACEM is a leading cement manufacturing company headquartered in Chennai. It was incorporated in the year 1946 by Shri S N N Sankaralinga Iyer and Sri T S Narayanaswami. While retaining cement over the years as its mainstay, India Cements has ventured into related fields like shipping, captive power and coal mining that have purposeful synergy with the core business. The co is also a sponsor of the IPL franchise “Chennai Super Kings”.

Trade Setup:
Could be a good Positional Trade with Buy on Dips Approach that May Retest the Breakout Zones again and then go upwards thereafter as MACD starts Trending Upwards.

Target(Take Profit):
Around 335 Levels or Falling 100 DSMA.

Stop Loss:
Entry Candle Low or The Key Levels Marked.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.