JK Cement Ltd reached a 52-week excessive, closing at Rs 4,932.65, with a acquire of Rs 110.15 (+2.28%). The inventory is buying and selling inside a rising wedge sample, indicating both a pattern continuation or a possible reversal.
A high-wave candle formation at resistance suggests indecision amongst merchants. RSI at 59.66 is in impartial territory, reflecting average bullish momentum with the potential for a pullback.
Key resistance is at Rs 4,980—a breakout and sustained transfer above this degree may set off additional upside towards Rs 5,200.
Given the present chart construction, an keep away from suggestion is recommended at these ranges, with a possible entry solely above Rs 4,980, confirming bullish power.
(Disclaimer: Suggestions, ideas, views, and opinions given by specialists are their very own. These don’t characterize the views of the Financial Instances)
