Stock to buy today: India Cements (₹210.80)
Outlook for the short term India Cement rising. The stock rose by 4.2% on Thursday taking it well above the key resistance area ₹200-202. The 21 and 100 day moving average (DMA) has just crossed. This strengthens the upward state. The 200-DMA resistance is advancing at 215 rupees. However, chances are great for the stock to break this resistance. This breakout could push India Cements share price to INR 245 over the next three to four weeks.
Traders can buy now and accumulate on dips at INR 204. Keep the stop loss at $194. Trail the stop loss up to $214 once the stock moves up to $219. Move the stop loss order to $225 when the stock touches $233 to the upside. Exit buy positions at 240 SAR.
(Note: Recommendations are based on technical analysis. There is a risk of loss in trading.)