JK Cement Ltd reached a 52-week high, closing at Rs 4,932.65, with a gain of Rs 110.15 (+2.28%). The stock is trading within a rising wedge pattern, indicating either a trend continuation or a potential reversal.
A high-wave candle formation at resistance suggests indecision among traders. RSI at 59.66 is in neutral territory, reflecting moderate bullish momentum with the potential for a pullback.
Key resistance is at Rs 4,980—a breakout and sustained move above this level could trigger further upside toward Rs 5,200.
Given the current chart structure, an avoid recommendation is suggested at these levels, with a potential entry only above Rs 4,980, confirming bullish strength.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
