Technical Stock Pick - Buy JK Lakshmi Cement Ltd For Target Of Rs. 535 - HDFC Securities
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Observations:
Stock price has broken out from symmetrical triangle pattern on the daily charts
Volumes have registered a good rise during the price breakout
Cement Sector has been outperforming for last many months
Stock price has been finding support on its 50 days EMA Stock has been forming higher tops and higher bottoms
Stock has been trading above all important moving averages, which indicates uptrend on all time frame
Indicators and oscillators like RSI, DMI and MACD have turned bullish on short term charts
Buy JK Lakshmi Cement Ltd @ 439-447 CMP 439.15 TGT 535 SL 400
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