India Cement Limited

• 08 August, 2024 Ruchit Thakur

India Cement Limited

India Cement Limited appears to be a good long-term investment because it has reached its top and is still growing.

Please review and comprehend the weekly chart format of India Cement Limited. According to the chart, India Cement Limited is an excellent investment opportunity between 280 and 300. It has done exceptionally well thus far and has a significant upside potential.

Please refer to India Cement Limited's weekly chart. Since emerging from the 280-300 range, the stock has risen and is currently trading above horizontal resistance. According to the research, India Cement Limited is in strong demand and is currently trading at 370. As shown in the graphic below, this growth era is expected to persist until around 480-500. 

• India Cement Limited is a superb long-term investment opportunity because it has continued to expand and made a significant breakthrough at 280-300.
• India Cement Limited appears to be in a strong position, with room for expansion to 480 and 500.
• The best time to buy this stock is between 280 and 300, as the risk-reward ratio is ideal for cash transactions.
• The chart reveals that the stock has broken out of an ascending triangle pattern, with a target price of 480 to 500.

Please refer to the weekly chart provided by India Cement Limited. The weekly chart suggests a break out, horizontal resistance, and demand in the 280-300 price range. Stock in that range rises due to high demand.

Since the stock has reached a new high, this is an excellent time to buy. However, please be mindful of the horizontal resistance and its breach. As of today, if we follow the increasing trend on the chart, the stock may reach its targets of 480 and 500.

India Cement Limited emerged from the rising triangle, with the pattern's most recent targets falling between 480 and 500. The rising triangle is one of the chart patterns utilized in technical analysis. Price discrepancies create a horizontal line at the swing high and a rising trend line at the swing low. These two lines form a triangle.

Investors may be looking for a long-term purchasing opportunity in the 280-300 level due to the stock's high demand, hoping to profit from any further losses. This might result in a rebound to the 480 and 500 levels, indicating that the risk-reward ratio is good. Use every slump as an opportunity to buy in this stock, which has a significant upside potential. Invest any fall in the company's stock.

Investors may elect to gradually acquire the stock with cash, targeting levels between 480 and 500 and setting a stop loss of 221.

As a trader or investor, I typically look for a Volatility Contraction Pattern (VCP), which is a scenario in which price volatility decreases prior to a significant gain, to allow the stock or instrument to reach large volume and upside with a quick increase and target hit. If you want additional information on VCP patterns, please download the app from the Google Play Store. We also offer a high-precision pattern recognition technique.

India Cement Limited's weekly chart displays both resistance and support. Levels are displayed on the spot chart. 

Company Profile: India Cements Limited is a cement production firm headquartered in Chennai. It is India's ninth-largest listed cement firm by revenue. N. Srinivasan, the former chairman of the International Cricket Council and president of the Board of Control for Cricket in India, leads the company.

S.N.N. Sankaralinga Iyer founded it in 1946, and the first facility opened at Thalaiyuthu, Tamil Nadu, in 1949. It operates seven integrated cement facilities in Tamil Nadu, Telangana, and Andhra Pradesh, one in Rajasthan (via its subsidiary, Trinetra Cement Ltd), and two grinding units, one each in Tamil Nadu and Maharashtra, with a capacity of 15.6 million tonnes per year. India Cement has three brands: Sankar Cement, Coramandel Cement, and Raasi Gold. 

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