Stocks Pick For Tuesday, October 19, 2021

  • Stock Market Analysis
  • Editors Pick

In the previous session, the Nifty opened on a positive note as predicted in the last report. The index saw a gap up opening in the morning and made a high near 18543 levels. Technically, the Nifty Index formed a ‘Doji’ candle pattern on the chart at higher levels which is a sign of indecision in the market. Hence a cautious approach is advisable for the next trading day.

The Ramco Cements (NS: TRCE ) Ltd

NSE: RAMCOCEM   BSE :500260  Sector : Cement

We have posted a daily chart of The Ramco Cements Ltd. On the chart, we can see that prices have formed a ‘Double Bottom pattern. Stock prices were consolidating for the last few days near 1025-1027 levels. Now further breaking above the previous day’s high will confirm the breakout. The stock is moving in Higher highs and Higher lows patterns since the last two trading sessions. Also, the range of RSI was also seen during the consolidation period which further confirms the bullish breakout.

The short-term trend for RAMCOCEM looks to be positive for now. Positions can be created above 1027 levels, which can take prices towards 1058 and 1110 levels. On the other side, the level of Parabolic SAR will act as key support for the stock.

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  • Mighty Moustache @Mighty Moustache
    Right from the start of trade it fell (ramco cem). But tmrw is a different day
    Like 0
  • Pratyush Mittal @Pratyush Mittal
    Excuse me sir but today it's chart is showing bearish engulfing pattern according to which it is supposed to go down not up
    Like 1
    • Pratyush Mittal @Pratyush Mittal
      Thanks
      Like 0
    • Pratyush Mittal @Pratyush Mittal
      Like 0
    • Pratyush Mittal @Pratyush Mittal
      Like 0
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  • Mohamed Sulthan @Mohamed Sulthan
    sir what is the selling target price you expect?
    Like 0
  • Mohamed Sulthan @Mohamed Sulthan
    sir what is the selling target price you expect?
    Like 0
  • Appasaheb Patil @Appasaheb Patil
    Hi
    Like 0

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