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Shree Digvijay Cement (SHREDIGCEM) - Technical Analysis - 8/1/20

BSE:SHREDIGCEM   SHREE DIGVIJAY CEMENT CO.LTD.
39点击
2
39 0
Only word describes cement companies' stocks en masse is - UP ! There has been lot of recent activities in cement sector and all points to bullish development. Even taking a look at your surrounding will tell you that structures of concrete             are rising every day without any slowdown in sight.
For Indian stock market, consumer goods ( now the Fad is for organic and Ayurvedic ) and Pharmaceuticals are every green sectors. Now you can add this construction segment too. We are long Colagate - Palmolive ( COLPAL             ) and Asian Paints ( ASIANPAINT             ) because rising urbanisation will keep on propelling such stocks higher and higher.
Since construction demand is cyclic, one needs to be little careful though because of huge boom is always followed by a lull. But looks like that time is not yet for India. Just a cursory look at big cement companies stocks e.g. J K cement, Ambuja Cement, ACC             , Ultratech, Dalmia etc will tell you the story. Even recently, Nirma has also started consolidating and expanding its reach in cement industry.
Shree Digvijay Cement is near is 2014 highs but still developments looks bullish . Of course there is no way that you can go all in but if one is really keen on getting long then pyramiding the entry makes sense. Because break of this level will quickly shoot the stock to 40 soon. 20 is good support during any pullback and on the upside it has huge ground open !
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