Note: This is for educational purpose only.
There is an ascending triangle formation in Ambuja Cement which indicates that buying pressure is more. Moreover, there is a Bullish Engulfing candle stick pattern formed in the last 2 candles.
There had been multilple test on trend line, If it shows any breakout go for a short swing position.
Always get into the trade after confirming multiple candles.
ONLY FOR EDUCATIONAL PURPOSE.
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Hi All ,
No naked put/call buy sell , manage risk .
Classic text book divergence shown on chart. expecting move above to 240 , stop loss of 205
Buy 220 April call , 1 lot
Sell 240 April call , 1 lot
Buy April call 230 , 2 lot
Buy April 220 put , 1 lot
Don't want the march series if it goes sideways, we will get Theta thrashing.
AMBUJACEM take Overbought zone to keep watch if break directly or pullback 38.3 retrace then break Upward
Dont enter trade now keep wait for pullback
Enter Above 235. 50 to 237.50
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
let,s see where it ll go..
above 300 it ll make flag pattern...
And below 250 it ll make M pattern ...
or more query comment below..
i ll happy to see your view, comment and feedback
And follow for such more analysis ....
We can clearly ascertain from the chart, Ambuja cement is resting on 61.8 line, trying to breakthrough, seems it's weak effort. Am expecting fresh bullish momentum to upside reaching around 250's zone with stops around 238's.
If you go more keen on 15mins you can see channel's in Ambuja, As I usually say try as per your plan, just giving out one of the ways here...