Synopsis
The stock reached a 52-week high of βΉ1,057 on December 14, 2023, but lost momentum shortly after, breaking below key short-term moving averages on the daily charts. Despite this, it found support above the 200-DMA and rebounded, regaining critical moving averages over the past few months. Riding this recovery, the cement stock has surged over 9% in a week, more than 15% in a month, and over 20% in the last three months, according to Trendlyne data.
The Ramco Cements Ltd rose over 9% in a week and more than 20% from its October low, which pushed the stock above the 1,000 level in November.Short-term traders can look to buy the stock for a target of Rs 1,200-1,300 from a medium-term perspective, suggested experts.The stock hit a 52-week high of Rs 1,057 on 14th December 2023 but failed to hold on to the momentum. It quickly breached most of the crucial short-term moving averages on the daily
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