fcsa

Ambuja - Price at crucial level

Long
NSE:AMBUJACEM   AMBUJA CEMENTS LTD
Ambuja has hit the 127.2% extension of the drop from 12th September 2017 - 23rd March 2018

This extension level is quite often a reversal point.

Correction is possible from here onwards - MFI is below 25
SL could be below 194
Comment: Long @207.5 (futures price)
Trade active: Going well... this is probably still a good entry point with a tight SL of just below 205 in futures and 204 in spot
Trade active: Inside candle dynamics at play. Theoretically a break above 213 could signal some profitable long position.

But I am already long with a very tight SL.

Very low risk in my current position and I am quite patient!!
Trade active: About 5 points from today's low
Comment: About 8.5 points up since posting this analysis... approx 21000 profit per lot till now
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