In a daily chart, Ambuja Cement is looking very bullish. Historically, the stock takes support on 21DEMA and on last trading session the stock did the same thing and today it gave opening in green. As you can see the price is facing the resistance of the upper trend line. Today stock touches the upper trend line but failed to cross due to lack of buying volume. The stock can try again to break the trend line and horizontal line, which is working as a resistance. If stock sustains above the resistance lines, then the stock can go up to ₹237.05.
RSI is between 50-60 so the stock is not in overbought zone and can go up if gets good volume.
RSI is between 50-60 so the stock is not in overbought zone and can go up if gets good volume.
Comment:
The stock took the support of the trend line and failed to break, which is a good sign that the stock has the potential to go up.