Radhakishan Damani Portfolio: Ace Investor has increased its stake in India Cements Ltd from 20.73 per cent to 22.76 per cent. As per the latest communication from BSE, the market magnate has bought 62,98,686 shares of India Cements, which is 2.03 per cent of the total issued capital of the company.
Stock market analysts are bullish on the share price of Indian Cements after Radhakishan Damani raises stake in Cement Company and advise positional investors to add the stock to their portfolio.
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As per stock market analysts, India Cements share price is likely to move higher as it is looking bullish on the chart pattern. He said that the stock may go up in the short term from 180 200 but after giving breakout above Level 200 on closing basis, it may go up to soon 225 in the near term. He can buy counter to medium term target of positional investor 250 per share level.
Share short term price target while speaking on India Cements; Sumeet Bagdia, Executive Director, Choice Broking said, “Radhakishan Damani Portfolio stock chart pattern looks bullish. One can buy the stock at current levels for an immediate target. maintain stop loss at 200 180. India Cements share price has slight hurdle 200, once it breaks this barrier and gives a new breakout based on the closing; We can increase this stock up to 225 in a month’s time.”
Ravi Singh, Vice President and Research Head, ShareIndia said, “Recently, India Cement has been corrected from a high level. 232 and near support found 170 levels. The stock has since bounced back from its support levels on the back of healthy volumes. Stock was consolidating in a narrow range from 170 180 levels. India Cements is trading above key short term and medium term MAs and momentum readings like 14-day RSI is in a rising mode. We recommend to buy in the range of 175 to 180 levels to aim for 220 level in the short to medium term.”
Advise positional investors to hold India Cements shares for short to medium term; Santosh Meena, Head of Research, Swastika Investmart Ltd., said, “The counter is continuing a sloping channel formation on a weekly time frame where it took support at the lower trend line of the channel after a meaningful correction and bounced back above its 200 mark. Managed. -DMA where 200 is an immediate and important obstacle; Above this, we can expect a move towards the upper trend line. from 240 250 area. on the downside, 175 has become the near term base; Underneath this the structure will weaken.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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