imdbeststocktrader

AMBUJA CEMENT - DAILY - LONG

Long
BSE:AMBUJACEM   AMBUJA CEMENTS LTD
1
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.
Trade closed: stop reached: Price broke the channel. Stop reached. Closed the trade.
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