Ramco Cements: Bullish Flag Breakout
RAMCOCEM Ramco Cements has recently given a bullish flag breakout at ₹1040, indicating a strong upward momentum in the stock. A bullish flag pattern is a continuation pattern that signifies the resumption of an uptrend after a brief consolidation phase. The breakout from this pattern suggests a renewed buying interest, backed by robust volumes.Trading Setup:
Entry Price: ₹1040
Stop Loss: ₹987 (below the consolidation zone)
Targets:
- First Target: ₹1072.10
- Second Target: ₹1104.10
- Third Target: ₹1136.10
- Fourth Target: ₹1168.05
- Final Target: ₹1200.05
Risk-Reward Ratio:
This trade setup offers a favorable risk-to-reward ratio of 1:3, making it an attractive opportunity for swing traders.
Key Observations:
- The stock has been in an uptrend, supported by strong institutional buying.
- The breakout is accompanied by above-average volumes, adding conviction to the move.
- Key resistance levels are expected at the target prices, while the stop loss is strategically
placed below the recent consolidation range to minimize risk.
Recommendation:
Traders can consider buying Ramco Cements at ₹1040 for the above-mentioned targets. Ensure strict adherence to the stop loss of ₹987 to manage risk effectively.
Disclaimer: This analysis is for educational purposes only. Please conduct your own research or consult with a financial advisor before taking any trading or investment decisions.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.