JK Lakshmi Cement has been forming higher lows since 2020, creating a well-defined ascending triangle pattern on the monthly chart.
The stock is currently testing a major horizontal resistance zone near Rs 999–₹1,000, a level it has repeatedly struggled to break in the past.
The current price is Rs 984.30, reflecting a strong 9.43% gain in the latest monthly candle. However, the breakout is not yet confirmed. The stock has approached the breakout zone but has not delivered a decisive monthly close above Rs 1,000.
Confirmation of the breakout will require strong volume and momentum. Without that, there remains a risk of a false breakout.
Analyst Disclaimer: The securities quoted are for illustration only and are not recommendatory. Financial Independence Services. Registration Number – INH000021058.
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