The Ramco Cements (₹722.4)

Investors with a short-term perspective can buy the stock of The Ramco Cements at current levels. The stock surged 3.7 per cent with above average volume breaking above a key resistance level of ₹700 on Tuesday. Moreover, the stock managed to close above the immediate key resistance at ₹715 on that session. This rally has strengthened the stock’s short-term uptrend that has been in place since taking support at around ₹650 on August 11. Further, the stock trades well above its 21- as well as 50-day moving averages.

Long-term trend has been up for the stock since taking support at around ₹140 in 2013. Both the daily and weekly relative strength indices have entered the bullish zone from the neutral region showing signs of bullishness. Similarly, the daily as well weekly price rate of change indicators are featuring in the positive territory implying buying interest. The short-term outlook is bullish for The Ramco Cements.

Traders with a short-term horizon can buy the stock with a stop-loss at ₹710. Short-term price targets are ₹750 and ₹760.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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