Investors with a short-term horizon and contrarian view can buy the stock of India Cements at current levels. The stock’s medium-term downtrend got arrested in late August this year at a 52-week low of ₹67.9. Subsequently, the stock took support from around ₹70 and reversed direction. Since then, it has been on a short-term uptrend.
The stock has the potential to extend the uptrend and reach the price targets of ₹86 and ₹88 in the upcoming trading sessions. Traders can buy with a stop-loss at ₹80.
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