India Cements is cyclical stock these stocks are known for following the cycles of an economy through expansion, peak, recession, and recovery also these stocks are also aligned with government themes.

Observation

As we can see on above chart stock break its previous high which is 234 after a low 5 month down fall. today stock seems very positive it can retrace till given level (240-230) after that it can go potential upside up to the level of 270+

Technical Analysis & indicators  

Fibonacci

Day chart

LL Breakout

News of the day 

1. Tata Steel has acquired a 14.28% stake in Indian Foundation for Quality Management for 125 million Indian rupees, according to a Tuesday filing to the Indian stock exchanges. The company acquired 12.50 million equity shares of face value of 10 rupees in Indian Foundation for Quality Management, which is a non-profit organization.
   

2. NTPC The board of power producer will meet on June 29 to consider raising up to 12,000 crores through the issuance of non-convertible bonds, according to an Indian bourse filing on Tuesday. non-convertible bonds are fixed-income instruments that are usually issued by high-rated companies in the form of a public issue to accumulate long-term capital appreciation. They are a type of debt instrument that cannot be converted into equity or stocks.
   

3. AMARA RAJA ENERGY MOB LTD, one of India’s leading battery manufacturers, jumped 20% to touch a new lifetime high of ₹1,656 apiece in today's early morning trade after the company, in an exchange filing on Monday, said that its wholly owned subsidiary, Amara Raja Advanced Cell Technologies (ARACT), has signed a technical licensing agreement with GIB EnergyX Slovakia, a subsidiary of Gotion High-Tech Co. Ltd.

Educational Content

This stock analysis is designed for educational purposes and should not be taken as professional financial advice. Please carry out your own research or consult with a financial advisor before investing.

Wed Jun 26, 2024