imdbeststocktrader
Long

AMBUJA CEMENT - DAILY - LONG

BSE:AMBUJACEM   AMBUJA CEMENTS LTD
55 views
1
55 2
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.
Oct 17
Trade closed: stop reached: Price broke the channel. Stop reached. Closed the trade.
Looking to go long from the support levels at 235-240. What are your views ?
Reply
Fundamentals:

Today Ambuja's Q3 results were out. Sales volume has fallen. Not looking good. We will get more stable reaction from the market tomorrow.


Technicals:

Price has broken the trend line and it is near 200SMA which can act as a support. However, I feel it won't hold and the price will fall further. The price can fall furhter till 220 - 210 mark.



As of now I would suggest to wait and not to go long.

Also as per current market scenario I would suggest to place stop loss for all the trades that you order
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Pine Wizards Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out