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The upmove in the stock is gaining momentum. The share price has risenwell over the last couple of days after breaking the 100-day moving average (DMA) resistance at ₹846. That leaves the outlook bullish for JK Lakshmi Cement. Moving average cross overs on the daily chart also strengthens the bullish case. It indicates that any intermediate dips could be short-lived. Immediate support is at ₹880.
Below that ₹850-845 is the next important support zone. JK Lakshmi Cement share price can rise to ₹1,035 in the coming weeks. Traders can go long now at ₹890. Accumulate on dips at ₹883. Keep the stop-loss at ₹830 initially. Trail the stop-loss up to ₹920 when the price goes up to ₹960. Move the stop-loss further up to ₹975 when the share price touches ₹990. Exit the long positions at ₹1,020.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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