Ambuja Cement giving a break down of Head and Shoulder.

The stock has given a nice break down of the Head and shoulder pattern.

The markets are in the negative and the stock has given 40% (approx) returns in 30-35 days time.

Stock has broken the neck line of the of the pattern and closed below it.

The stock has closed below its 50% Fibonnaci levels.

Wait for the stock to retest the price level of the neck line and watch for the price action near the levels for shorting the stock.

The targets and Stop loss are mentioned in the chart.

An intraday and swing trade can be initiated in the stock.

Wait and watch the candlestick pattern for carrying on the trade.


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