Ramco Cements at a Crossroad: Big Breakout or Breakdown Ahead?

This chart shows The Ramco Cements Ltd on a monthly timeframe, with price action forming a clear structure.

Analysis:

Pattern: A symmetrical triangle pattern, where the price is trading within a narrowing range.

Resistance (Red Line): Around ₹1000, where the price has faced multiple rejections.

Support (Green Line): Higher lows, indicating that the long-term uptrend is still intact.

RSI: Currently around 49.71, sitting in a neutral zone — neither overbought nor oversold.


Deception Point:

If the price breaks below ₹800 and sustains, it could signal a bearish breakdown.

Conversely, a breakout above ₹1000 with volume confirmation could trigger a strong bullish rally.


Next Steps:

Wait for a breakout with volume to confirm the move.

Enter the trade only after a confirmation candle to avoid getting trapped in a false breakout.