Shree Cement (Only RSI above 40 in hourly can save bulls)

4 Jul 2021

Shree cement is forming head and shoulders pattern in daily time frame, if it breaks down neckline then it can show more down fall, and above neckline if it survive with rsi above 40 in hourly time frame, then only it can go for further up moves towards blue resistance line, between black neckline and blue resistance line it could be a sideways, and breakout above blue resistance line only can allow bulls to take charge.

Head and Shoulder Pattern in daily time frame

Black Neckline and Blue Resistance line

Key Levels in hourly

Lower key levels

Upper key levels

Daily MACD Negative Crossover and downtick

Weekly MACD Negative Crossover and downtick

Hourly MACD is Uptick and positive crossover


Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing

12 Jul 2021

Nota

27050 TO 28400 :)