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Trading_hawk
Aug 29, 2021 8:41 AM

Simple Trade Setup| AMBUJA CEMENT | 30-08-2021 

AMBUJA CEMENTS LTDNSE

Description

NSE:AMBUJACEM

Observations:

1) On Daily time frame it reversal and break 21DMA and closed above it. But it is below it's nearest resistance range of 410-415.

Please refer below chart : daily time frame.


2) On 1hr time frame, you can see this resistance range 410-415 giving resistance multiple time and only one time it has broke it but couldn't able to stay above it.
And now it is critical moment for this, if it breaks this range then it will be good upmove but if it fails then again there will be down move.

Please refer below chart: 1hr time frame.



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Trade Setup for Date 30-08-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Trade active

Comments
saurabhbakliwal1001
Stuck . Resisitance 422.50.. what is the indication?
Trading_hawk
@saurabhbakliwal1001,

Hi Since today volume is less due to no-trading day by most of trader hence only few stocks have good momentum.

Breakout on 422.50 will give quick move of 4points on which you can book profit today if you are holding it.
swathikonakanchi
level 1 target achieved
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