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India cement strong value and technicals

rakeshseth's picture
Submitted by rakeshseth on December 7, 2009 - 11:29

Traders with medium/short-term perspective can consider investing in the stock of India Cements.The company is the largest producer of cement in South India and it has a market share of 28 per cent in the South.

The stock's medium-term downtrend that commenced from the June peak
of Rs 180 halted at the key support band between Rs 95 and Rs 100 in
late October. This support was tested again in November after which the
stock bounced up.

The daily relative strength index (RSI) is setting bullish tone. I think the stock can rally upward until it
hits 150 range.


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