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The stock price of Star Cement has been consolidating sideways since August. The range of trade has been ₹147-170. The stock is now poised near the upper end of the range. The broader trend for the stock has been up since July this year. So, the bias is positive to break this range on the upside above ₹170, if not immediately but eventually. Such a break can take Star Cement’s share price up to ₹185.
It will also indicate the resumption of the overall uptrend. Traders can go long at current levels. Accumulate on dips at ₹155. Stop-loss can be kept at ₹148. Trail the stop-loss up to ₹170 as soon as the stock moves up to ₹174. Move the stop-loss to ₹178 when the price touches ₹181. Exit the long positions at ₹185.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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