Intraday Trade Setup
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Buy AMBUJACEM above Rs .190.50 for the Targets of Rs . 194 - 196 ++ .....
Stoploss Rs . 188.50 ....
**Note-> Buy only if 15min Candle closes above 190.50 ...
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Thank you,
Vishwajeet Sharma
Good strong recovery, a triangle pattern on the daily chart, stock at resistance, a very strong green candle on Friday breaking and closing above the triangle pattern, bullish RSI divergence, economic activity commencing leading to spurt in pending infra projects being taken up on priority... how many more reasons do we need to enter the stock if not already done....
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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Hello Trader, Here is the full analysis of :
1) On 1hr chart we can see it as formed Crab pattern and possible reversal expected.
2) Price is near strong resistance zone and can test this zone for up move and if it fails then on basis of Crab and strong resistance one can look for short.
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idea posted on 13-may-2020. Look at the power of candle stick pattern. Trade taken on shooting star is very poweful and accurate. Look at the charts not even touch our Stop Loss & result is in your hand. Patience is the key to success in stock market.
There is clear visibility on daily charts of Ambuja Cement for today candle is shooting star . From this level a very strong resistance or downfall can be seen. So traders can be add this in watch-list for tomorrow.
After giving BO from 160 level, it is going in channel. it will come down to retest the BO levels, good to add around 155-158 levels for target of 172, 182,193.
