AMBUJA CEMENT long term view
Ambuja cement performance since the market crash. let us discuss some important points regarding ambuja cement.
after the crash, it has formed a perfect parallel channel pattern in that 3 supports, 3 resistances are faced. There are 2 nearer reversals zones at 245 and 280.
245 level is acting as support, 280 level is acting as resistance.
As per Fibonacci retracement once it got tested 0.38 level, Now it is testing 0.24 level. And also there is an important resistance (280) zone nearer. After that, there will be a huge breakout let wait for it and be ready to grab it.
Please LIKE you are convinced with my explanation, if not let me know in the comment section. I am eagerly waiting for your reply good or bad just reply. Thanks for reading.
Disclaimer:- It's just for educational purposes.
after the crash, it has formed a perfect parallel channel pattern in that 3 supports, 3 resistances are faced. There are 2 nearer reversals zones at 245 and 280.
245 level is acting as support, 280 level is acting as resistance.
As per Fibonacci retracement once it got tested 0.38 level, Now it is testing 0.24 level. And also there is an important resistance (280) zone nearer. After that, there will be a huge breakout let wait for it and be ready to grab it.
Please LIKE you are convinced with my explanation, if not let me know in the comment section. I am eagerly waiting for your reply good or bad just reply. Thanks for reading.
Disclaimer:- It's just for educational purposes.
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