AMBUJACEM Looks Weak Broken Uptrendline today

Ambuja Cement looks weak and has broken UP-TREND line today with 1.6X its average Volumes. Look to Sell AMBUJACEM only around 264.35 with SL 268 and TGT 255.5
Both Short term and Medium term outlooks for the stock are bearish.
Go Short only around 264.35 as CMP is 262.7

Trade active:

Trade Active: Sell AMBUJACEM@264.35, as Todays high was 265.5.
Todays Low is made at 259.35 which as breached yesterdays Low of 262. This makes AMBUJACEM in DOWNTREND. Hence we shall wait for our target of 255.5

Comment:

AMBUJACEM has increased to 9% of OI with FRESH LONG positions today. Volumes were high on trade However, price closed below Cloud and below band. Which signifies this volume is purely an expiry rollover volume. Hence. we shall continue with our short on AMBUJACEM with SL of 268 and TGT of 255.5

Comment:

AMBUJACEM made a long - tailed DOJI today which signifies indecicive move by bulls and bears.
We shall still wait for our target with SL of 268 and Target of 255.5

Trade active:

Todays low is at 252.05 and Target was at 255.5.
TARGET ACHIEVED

Trade closed: target reached:

Todays low is at 252.05 and Target was at 255.5.
TARGET ACHIEVED