India Cements Ltd. (INDIACEM) – Weekly timeframe.

Pattern: Price was consolidating in a broad rectangular range between ~₹260 (support) and ~₹383 (resistance) since mid-2024. Breakout: This week, price has given a clear breakout above ₹383 (previous resistance and supply zone). Current close is ₹403.75, which is a decisive move above resistance. Volume: The breakout candle has come with higher-than-average volume (4.71M vs avg 3.98M) → strong confirmation. Trend: Medium-term uptrend intact; price has been forming higher lows since early 2025. Immediate Supports: ₹383 (old resistance, now support) ₹343 (swing support + VWAP base in chart) Upside Potential (Measured Move): Height of rectangle = ~₹383 – ₹260 = ~₹123. Adding this to breakout point (₹383) → Target = ~₹506 (medium-term). Next Hurdle: Around ₹420–₹430 (minor supply zone from 2022). 🔑 Summary: India Cements has given a range breakout after more than 1 year of consolidation. Sustaining above ₹383 opens the door for a medium-term target of ₹500–₹510, with support at ₹383 and deeper support at ₹343.