Ambuja Cement | Fake breakdown | Upmove before results
Updated
After a breakdown below 50DMA and 200DMA stock consolidated.
This formed an Inverse Flag and pole Pattern. This pattern if continued would have led to downside. But this pattern failed and now with the price disregarding Inverse flag and pole pattern trying to close above 50dma and 200dma and with MACD crossover all happening at the same time Upmove should last.
Risk: Quarterly Result Coming Up.
B,S,T,SL, Levels Mentioned in Chart.
This formed an Inverse Flag and pole Pattern. This pattern if continued would have led to downside. But this pattern failed and now with the price disregarding Inverse flag and pole pattern trying to close above 50dma and 200dma and with MACD crossover all happening at the same time Upmove should last.
Risk: Quarterly Result Coming Up.
B,S,T,SL, Levels Mentioned in Chart.
Trade closed: target reached
Target of 466 reached in 4 days.In percentage terms : +10% in 4 days.
Trade closed.
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