The short-term outlook is bullish for the Star Cement stock, which surged over 5 per cent on Tuesday. This has taken the share price well above the key resistance level of ₹119. The stock can now sustain well above ₹119. Immediate resistance at ₹126 can be tested this week. A pull-back, if seen from here, can be short-lived and limited to ₹119. The chances are high for the stock of Star Cement to break ₹126 and rise to ₹135 over the next two-three weeks. Traders can go long now. Accumulate on dips at ₹120. Keep the stop-loss at ₹117. Trail the stop-loss up to ₹125 as soon as the stock goes up to ₹126. Move the stop-loss further up to ₹127 when Star Cement share price touches ₹129. Book profits at ₹132.
Note: The recommendations are based on technical analysis. There is risk of loss in trading