🔴 JK Cement – Signs of Exhaustion After a Steep Rally

🔹 Price Action JK Cement has witnessed a sharp rally in recent weeks, touching an all-time high of ₹7,574 before facing profit booking. The stock closed the week at ₹6,841 (-2.29%), showing early signs of exhaustion after a vertical rise. The recent pullback from the top suggests that the stock may have entered an overheated zone, where further upside could be limited without consolidation. 🔹 Technical Signals Channel Breakout Extended: Price moved well above its long-term rising channel, signaling an overextended move. Bearish RSI Divergence: While price made a new high, RSI has not followed, hinting at weakening momentum. Support Zone: Key support lies around ₹6,400–6,050, aligning with the breakout region. 🔹 Levels to Watch Immediate Resistance: ₹7,574 (recent high) Support Zone: ₹6,400 / ₹6,050 Major Support: ₹4,890 (long-term base) Sustained trade below ₹6,400 could trigger further correction, while holding above this zone may allow sideways consolidation before any fresh move. 📊 Summary JK Cement looks overheated after an extended rally. The presence of RSI bearish divergence and price rejection at highs indicate short-term exhaustion. A healthy consolidation or correction towards support levels is likely before the stock attempts another leg higher. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.