Shree Cement Ltd. is in a rising trend channel
in the medium long term. This shows that
investors over time have bought the stock at
higher prices and indicates good development
for the company. The stock has broken a
resistance level in the short term and given a
positive signal for the short-term trading
range. There is no resistance in the price chart
and further rise is indicated. In case of a
negative reaction, the stock has support at
approximately 31600 rupee. Positive volume
balance indicates that volume is high on days
with rising prices and low on days with falling
prices, which strengthens the stock. RSI
above 70 shows that the stock has strong
positive momentum in the short term.
Investors have steadily paid more to buy the
stock, which indicates increasing optimism
and that the price will continue to rise. The
stock is overall assessed as technically
positive for the medium long term.
