The India Cements Limited has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. It also gave positive signal from the inverse head and shoulders formation at the break up through the resistance at 190. Further rise to 221 or more is signaled. The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. The stock has support at rupee 185 and resistance at rupee 230. The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well. The stock is overall assessed as technically positive for the medium long term.
