Abhishek Mondal Guiness Securities
After marginal consolidation, India Cements has given a breakout above Rs 118-119 levels on the daily scale with higher volumes. The daily momentum indicator, Relative Strength Index (RSI) reads at 62.45 levels, which is showing positive momentum.
The MACD is also trading above the zero line with positive crossover, suggesting consolidation phase is over in the stock. Traders can buy the stock in the range of Rs 120-122 with a stop loss below Rs 110 (closing) for target of Rs 140.
Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on Moneycontrol are his own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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