Ambuja Cement taking support. Go Long ?
Updated
Ambuja Cement is taking support from a trendline formed on Daily time-frame. You can go long once you see a strong bullish candle on Daily time-frame / 4H. Place the stop-loss below the trendline and targets according to your analysis. Note : There could be a chance of failure of the price to go bullish because the stock is trading below its 200 EMA (1d timeframe), which could be considered as downtrend. Take the trade according to your risk appetite.
I suggest you to exit half of the quantity once it takes resistance from 200 EMA / 360 Rs.
I suggest you to exit half of the quantity once it takes resistance from 200 EMA / 360 Rs.
Note
Due to Gap Down opening of the stock the trade is not activated.
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