INC05 trade ideas
India Cements - Need to close above 202 for trend reversal India Cements has been on sell side pressure after hitting 52 week at 232. But the stock has been on long term bullish trend consolidating within the channel since 2020 covid lows. Currently the stock is in slight bearish mode, since it recently made higher lows and lower highs. It needs to close green above 202 for consecutive 2-3 days for trend reversal from bearish to bullish, then we can expect the long term bullish channel trend to continue.
INDIACEM B @ 232 & TARGET @ 235Dear Traders,
INDIACEM B @ 232 & TARGET @ 235
Many people made huge profits last week and as per my predictions , the market was running same direction and entry and exit strategies where bang on target.
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India Cements IndiaSun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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INDIACEM :: (Study) Channel lines, Key FIB & S/R Levels/**
Entry 211 - 215..
Initial StopLoss 189
Read about Risk management before taking any position.
Technicals:
-- LONG Buildup & nearing very key Breakout levels.
-- Price is making HH & HL & breaking many resistance levels in the last few weeks.
-- Very Bullish once the price sustains above FIB 3.618 level (price 211+) ..
-- This level is important coz the share price will cross :
:: 52 weeks high
:: 4 Months+ correction (or accumulation) high
:: as well as 4 years High
Current Fundamentals:
- Last one year Earnings & Margin are 4 years of high
Caution : Smallcap stock... Prefer allocating <5% of your capital. And consult your financial advisor to know more about the risks associated with buying / selling shares.
**/
Long Trade on India Cements On looking over the 15m time frame we clearly see a Volume Contraction Pattern (VCP) , it is a very good long trade having the Stop Loss below the second leg of the VCP pattern and an easy 1:2 move can be expected from this setup, rest can be trailed for the higher profits. The above trade setup is done for the day 14.06.2021. Please like if you got some profits or found it useful.
Thank you.