India Cements Should be soon above the INR 300 mark.
The cement stocks have had a great 2023 and many are looking to carry the run forward into 2024 as well.
India Cements was spotted displaying a minor Wave I from Nov 1 till Dec 14.In this wave the stock swiftly moved 35% up in a short time of 1.5months
Wave II was a 38.2% retracement of the wave I.
Between Dec 21 and Jan 4 the stock completed a leading diagonal which is the first leg to the bigger Wave III anticipated in the stock.
The wave III target is projected at INR 325-340 zone and the stock should be expected to gain a strong momentum in coming days once it closes decisively above the INR 275 mark.
On the down INR 245 could be considered for a "SL".
India Cements was spotted displaying a minor Wave I from Nov 1 till Dec 14.In this wave the stock swiftly moved 35% up in a short time of 1.5months
Wave II was a 38.2% retracement of the wave I.
Between Dec 21 and Jan 4 the stock completed a leading diagonal which is the first leg to the bigger Wave III anticipated in the stock.
The wave III target is projected at INR 325-340 zone and the stock should be expected to gain a strong momentum in coming days once it closes decisively above the INR 275 mark.
On the down INR 245 could be considered for a "SL".
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.