AMBUJA CEMENT - DAILY - LONG
Updated
Good opportunity to go Long.
Need to exit the trade if price breaks the trendline.
Retracement at Point B is almost equal to retracement at Point A. Reversal is expected
Stop Loss: 251.41
Target 1 : 262.49
Target 2 : 276.10
For past few days price is moving in a range at monthly support/resistance level. There are few wigs at around 250 level. This indicates that traders are ready to buy at that level even though there are traders selling a that level.
Need to exit the trade if price breaks the trendline.
Retracement at Point B is almost equal to retracement at Point A. Reversal is expected
Stop Loss: 251.41
Target 1 : 262.49
Target 2 : 276.10
For past few days price is moving in a range at monthly support/resistance level. There are few wigs at around 250 level. This indicates that traders are ready to buy at that level even though there are traders selling a that level.
Trade closed: stop reached
Price broke the channel. Stop reached. Closed the trade.
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