📊 The Ramco Cements Ltd. – Testing Resistance, Fibonacci Levels in Play

🔍 Structure: Price is trading inside a long-term contracting range (black trendlines). Current candle is testing the upper boundary of this descending channel. 🔑 Key Levels: Immediate Resistance: ₹1,099 → trendline + prior supply zone. Support: ₹1,039 → recent breakout level. Key Fibonacci Levels: 0.618 → ₹917.90 (already reclaimed) 0.5 → ₹851.40 0.382 → ₹784.90 📈 Bullish Signals: Strong breakout above ₹1,039 with volume. Price has recovered above key Fibonacci retracements, indicating trend strength. ⚠️ Risk Zone: ₹1,099–₹1,133 is a crucial resistance band. Rejection here may trigger a pullback towards ₹1,039 or lower. 👉 Summary: Structure is bullish above ₹1,039. Sustained breakout above ₹1,099 could target ₹1,133 and beyond. 📢 Disclaimer: This is for informational purposes only. Not a buy/sell recommendation. Positions may or may not be held. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully.