Potential Breakout from a Symmetrical Triangl Descending Channel

Entry Zone: We recommend initiating a BUY position in JK Lakshmi Cement around the current levels, ideally between ₹880 - ₹890. This considers the strong closing above the resistance trendline.

Target 1 (T1): ₹925
Target 2 (T2): ₹950
Target 3 (T3): ₹980 (If momentum sustains above T2)

Stop Loss (SL): ₹860 (Strictly on a closing basis)

Channel Breakout: The stock has decisively broken out of a multi-month descending channel/symmetrical triangle pattern, indicating a potential strong reversal from a corrective phase. This breakout appears to be supported by a noticeable pickup in volumes.

Key Resistance Breach: The stock has also managed to close above a significant horizontal resistance level around ₹880-885, which has acted as a hurdle multiple times in the past. A sustained move above this level confirms bullish intent.

RSI Strength: The Relative Strength Index (RSI) is showing strength, trading well above the 50-mark and moving towards the overbought zone, confirming increasing buying momentum.

Positive Price Action: The overall structure suggests accumulation at lower levels, and the current breakout could initiate the next leg of the uptrend.

Favorable Risk-Reward: The setup offers a compelling risk-reward profile for a short-term trade, with significant upside potential compared to the defined stop-loss.
Key Risk: A failure to sustain above the ₹880 level or a close below the ₹860 stop-loss would invalidate the bullish view and could lead to renewed selling pressure.