ORIENTCEM.NSE Orient Cement Ltd

In case, the Nifty50 gets broken down the support 19,480, the low of previous week, 19,300 (the low of October month) is likely get tested in coming sessions, experts said.

Currently, the Birla family and private investment vehicles hold a 37.9% stake with a market value of Rs 3,890 crore.

Considering the momentum in key sectors, if the Nifty50 decisively surpasses 19,500, then 19,650 is expected to be the crucial area for sharp up-move, while the critical support remains at 19,300-19,250, experts said

The last week's low point of 19,250 is expected to be crucial this week as well. A breach of this level may pull down the index up to the psychological 19,000 mark, whereas on the higher side, 19,400-19,500 can be critical hurdles, experts said

ICICI Securities recommended reduce rating on Orient Cement with a target price of Rs 137 in its research report dated August 05, 2023.

Technically, the Nifty seems to be looking strong now. Hence, 19,600-19,700 is expected to be key resistance area initially for the Nifty50 followed by 19,800-19,900 levels