Ascending Triangle on Ambuja Cements A Hammer pattern is seen on the hourly timeframe.
Even though we can see a ascending triangle, the bullish volumes are reducing.
A long can be possible only when we can see it above 407-408 levels.
A Short can be possible when it breaks the trendline and till T1-393, T2-383.
Next week can help us get more info on this.
AMBUJACEM
ULTRATECH CEMENT - the engineer's choice 🏗️👷Looks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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DAILY SWING CALL // Friday 28th of May 2021 // NSE: AMBUJACEMDAILY SWING CALL // Friday 28th of May 2021 // NSE:AMBUJACEM
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 330
TARGET: 380+ (15% Around)
STOP LOSS: 297 (10% Max)
Standard Notes:
- Please follow the Stop Loss strictly and preferably on a daily closing basis.
- Recommended Profit Booking / Exit is on +12-15% & If you still want to hold the stock, trail the SL once this target is achieved.
- Duration: 15-20 Trading Days is suggested for all my trades and is an indicative period.
- If SL / Target are not triggered and you still wish to hold the trade, this can be done as long as SL is followed or trailed.
Disclosure: I may or may not have a position in this trade.
Disclaimer: All the recommendations are subject to market conditions. Please trade at your own risks.