SHREECEM
Shree Cement looking strong on charts supported by volumesShree Cement Ltd. engages in the manufacturing of cement and cement-related products. The company's brand names include Shree Ultra, Bangur, and Rock Strong. The firm's products include: Ordinary Portland Cement, Portland Pozzolona Cement, Portland Slag Cement, and Composite Cement.
CMP of the stock is Rs.25746.55. The Negative aspects of the company are Companies with growing costs YoY for long term projects , High PE (PE > 40), MFs decreased their shareholding last quarter and Declining cash from operations annual. The company's Positive aspects are No debt, Zero promoter pledge, Improving annual net profit.
Entry can be taken after closing above 25835. Targets in the stock will be 26000, 26733 and 27283. The long-term target in the stock will be 28317, 29210 and 30754. Stop loss in the stock should be maintained at Closing below 23767.
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Shree Cement (Only RSI above 40 in hourly can save bulls) Shree cement is forming head and shoulders pattern in daily time frame, if it breaks down neckline then it can show more down fall, and above neckline if it survive with rsi above 40 in hourly time frame, then only it can go for further up moves towards blue resistance line , between black neckline and blue resistance line it could be a sideways, and breakout above blue resistance line only can allow bulls to take charge.
Head and Shoulder Pattern in daily time frame
Black Neckline and Blue Resistance line
Key Levels in hourly
Lower key levels
Upper key levels
Daily MACD Negative Crossover and downtick
Weekly MACD Negative Crossover and downtick
Hourly MACD is Uptick and positive crossover
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Shreecem Monthly/Weekly/Daily/240 min 19250-17831 Shreecem Monthly/Weekly/Daily/240 min 19250-17831
pro:
1. m/w/d/240 co-inciding levels
2. 2 exciting candle 240 min
3. 2 daily exciting candles
4. 25% inside monthly zone origin
con:
1. level over levels, so execution zone in 240 min is fat
2. not much explosive move in execution 240 min
3. origin of the move is other 75% apart from the monthly location zone,, so still more room to go down inside the monthly damnd zone