JK Cement has broken out above the Rs 5,275 level with strong price action and rising volumes, confirming a bullish continuation pattern on the daily chart.
The ongoing rally from the Rs 4,000 zone has been both steep and sustained, highlighting a strong upward momentum. The breakout zone lies between Rs 5,275 and Rs 5,300, and the stock now eyes short-term targets of 6,300 and 6,600.
Key support levels are placed at Rs 5,550, which corresponds to the recent consolidation area, and Rs 5,275, the breakout base.
A stop loss can be maintained at Rs 5,245, which lies just below the breakout zone and a key horizontal support.
The uptrend remains firmly intact, and as long as the price sustains above 5,550, momentum is expected to continue. Any pullback toward the Rs 5,550–5,650 zone could offer a favorable accumulation opportunity.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
