1H breakout Ambuja cements Long/buy

Ajuba1205 Updated   
Ambuja cement is in a Strong uptrend in weekly charts going with that Idea we are taking a long entry in a shorter time frame.
Ambuja cement has given a Breakout in hourly time frame with movements in volume. The second reason to go long is that the stock has taken support twice at the 0.382 levels of the fibo and has formed a double bottom at the respective levels. 3rd reason to enter the trade is that the overall sentiments for cement stocks in the market are positive.
All the above reasons are purely based on price action not taking any Technical indicators in use. you can confirm the same levels using the technical too. Hope you like the analysis
And Please leave a like if you find it helpful Also I would love to hear your views regarding same.
You can also Check the breakout levels using multi time frame analysis


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