#ShreeCEM #NR7IB H=20540 L=20260

#ShreeCEM notices #NR7IB pattern on daily scale. Stock is in bullish trend and trading above all moving averages. RSI, ADX, EFI, ADX all suggesting bullishness. However last 3 candles suggests exhaustion and stock is noticing price rejection at higher levels near its supply zone of 20475-20600. One can wait for a range breakout beyond H=20540 L=20260 and take the trade in the direction of trend with R:R 1:2.

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Disclaimer: Objective of this posts is to educate and help members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock ideas/views are momentum picks chosen using technical indicators and for education purpose only. And my views may go wrong. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.

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Stock moved from 20287 to 21448