Today’s Pick: Star Cement (₹122.90): BUY

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The general outlook for the short term is bullish Star Cementwhich jumped more than 5 percent on Tuesday. This has taken the share price well above the key resistance level of INR 119. Stock can now hold upwards of $119. The immediate resistance at $126 could be tested this week. The retraction, if viewed from here, can be short term and is limited to INR 119. Chances are high that Star Cement stock will break from $126 and rise to $135 in the next 2-3 weeks. Dealers can buy now. Accumulate when dips at Rs 120. Keep the stop loss at Rs 117. Trail the stop loss up to $125 once the stock rises to $126. Move the stop loss order to $127 when the Star Cement share price touches $129. Earnings book at £132.

Note: Recommendations are based on technical analysis. There is a risk of loss in trading