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T_Harth
Apr 22, 2023 12:47 PM

AMBUJACEM- Bearish Harmonic SELL! Short

AMBUJA CEMENTS LTDNSE

Description

Attached: Ambuja Cements Hourly Chart as of 21st April 2023

Price is heading Down on its Way to Meet the Harmonic Pattern Targets (SELF EXPLANATORY just see Chart for levels)

Some other Points to also note are as follows:
- Hourly MACD in Sell and below 0 line
- Hourly RSI below 30 and Oversold (as it should be in a Bear Trend)
- 20 Hour EMA below 50 Hour EMA and in Sell Mode (blue and red ma)
- Price has broken below 200 Hour EMA (black ma)

All these are characteristics of a Bear Trend

Trade closed manually

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