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The short-term outlook for the stock of JK Lakshmi Cement is bullish. The 5.24 per cent surge on Wednesday indicates that the upmove is gaining strength. This rise has taken the stock well above ₹140 – a key resistance. The 100-Day Moving Average is poised near that. This level of ₹140 will now act as a good support. Dips to ₹140 is more likely to see fresh buyers coming into the market.
The share price of JK Lakshmi Cement can rise to ₹810 in the next two-three weeks. Traders can go long at current levels. Accumulate on dips at ₹750. Revise the stop-loss up to ₹775 as soon as the stock moves up to ₹785. Move the stop-loss further up to ₹780 when the share price touches ₹795. Exit the long positions at ₹805.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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