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The stock of HeidelbergCement India has been in a short-term uptrend since taking support at ₹174 in mid-December 2019.
On Wednesday, the stock gained 3.7 per cent accompanied by extraordinary volume, breaking above a key resistance level of ₹185 and the 200-DMA.
The short-term outlook is bullish for HeidelbergCement. It can continue to trend upwards and reach the price targets of ₹201 and ₹205 in the upcoming sessions. Traders with a short-term perspective can buy the stock while maintaining a stop-loss at ₹189.
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