We published a post talking about how Chemicals were outperforming in the current market scenario. Another such group of stocks that have been performing well, is Cements. We published a post dedicated to Cement in December 2020, but it seems like the move has only started! More names are getting added to the ‘strong’ column so we thought we could revisit this sector again.
Are there any other stocks that have undergone any structural changes? Let’s find out.
ACC has been an underperformer in this sector for quite some time now where we’ve cautiously put this name on the ‘watch list’. It seems like the wait might just be over!
The price has finally broken out above the all-time high near 1,870 and looks ready for another leg of the rally. This is a four-year base breakout as the indicator continues to hovers around bullish momentum territory.
We are bullish above the risk management level of 1,870 with a target near 2,470.
Click on chart to enlarge view.
To access our team’s Technical Analysis, you must be a premium member of All Star Charts India. Please login below or start your risk-free 30 day trial today.
Lost Password?