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The short-term outlook for India Cements is bullish. The stock has surged 4.2 per on Thursday taking it well above the key ₹200-202 resistance zone. The 21- and 100- Day Moving Average (DMA) cross over has just happened. This strengthens the bullish case. The 200-DMA resistance is ahead at ₹215. But the chances are high for the stock to break this resistance. Such a break can take India Cements share price up to ₹245 over the next three-four weeks.
Traders can go long now and accumulate on dips at ₹204. Keep the stop-loss at ₹194. Trail the stop-loss up to ₹214 as soon as the stock moves up to ₹219. Move the stop-loss further up to ₹225 when the stock touches ₹233 on the upside. Exit the long positions at ₹240.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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