Ambuja Cement 50Ema below

Nov 4, 2024

Price is trading below 50Ema and once price going below and trading below 566 we will see a fall till 555,
So flat opens and 566 below 15min candle closes then 561.20 as 1st tgt then 555-551 next tgt can be seen,
For any buying let price sustain and trade above 576 for atleast 30mins then we can see 580.20-581.10tgt can be seen,
If gap up or gap down opens then wait for 30mins then wait for 30mins mark high &low then trade on side price goes.
Note:- the Rectangle box at 566-561 is fib.golden ratio zone and here price can reverse or can continue as per Ema and candle stick pattern price is weak so we may be able to see 555 level or more.
This analysis is valid for only 5/11/2024 and will try to update under comments tab if there’s any price movement or any levels.

Nov 5, 2024

Note

Price formed a Doji candle on day chart showing indecision and if you see the low of 5/11/2024 is near 4/11/24 so that means it will act as immediate support 566.85/566.
If flat opens or a little gap up takes rejection from 579-577.40 we will see a fall till 574-572 or even 566.85 level,
If flat goes up by forming small candles on 15min timeframe then above 574.45 price trades and sustains 15min to30mins we will see 577.75-582.25 tgt can be seen,
If flat goes below 570 then 566.85 immediate tgt and book here and if price goes below 566 in 1candle below 570 then there’s high chance of volatility and price reversal so be cautious,
Gap up or gap down opens then wait for atleast 30mins mark high & low then trade on side price goes.