AMBUJA CEMENTS LTD is trading above it's All time high (ATH) and is at 617.60. Next Target seems to be at 767 as per Fib Retracement.
Note: This Idea is just for educational purpose. Do not trade based on this idea. Do you own analysis before trading.
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Broadening Pattern
📌 Symbol/Asset: AMBUJACEM
🔍 Description: Stock has formed Broadening Pattern and its around the resistance of the pattern.
We can see huge momentum if stock is able to cross 530-540 levels on the upside.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
Refer the chart for Entry,Target and SL.
NOTE: This trade is only for Equity Swing buy and not to be considered for options trading.
Please do follow Position Sizing and Risk Reward Ratio while planning any trades.
Note: This information is for education purpose only and please do your own research and consult your financial advisor prior to taking any...
Long Ambuja above 450 for the target level of 482-500. All important levels have been marked on the charts. The logic behind the trade:
1) Stock price rising from the lower channel. Bullish candles have been seen from the support of the channel.
2)Entry after the BO of 50 EMA level.
3) Support taking from 200 EMA level.
Also, volume & RSI divergence will lead to...
Looking good for short opportunities once the trendline is broken can give a nice momentum as it's been a buying trendline.
Please do follow me for more such trades nd do check out my previous analysis.
MACD, RSI, and price action indicating a price reversal from these levels. Please keep a watch for tomorrow. Chances are high we can see upside till 415+ levels. right now it is trading at 406.
Use proper stop loss to go long.
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Technical Analysis :
Strength : Weak
Chart Type: Daily
Chart Pattern : Ascending Triangle
RSI : Above 50
Price : Above 20 MA and below 200 MA
View: Breakout and Positive results
Targets : 415, 426, 437, 450
Supports : 394, 375
The price is currently below the 200-day moving average. This suggests that there is a possibility that the price may not move soon,...
Ambuja Cement looks a good bet for investment, we saw a great rally in Cement Stocks but this couldn't perform because of Adani Saga.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
#Ambujacem
forming a corrective pattern 'ABC' with a triangle in B.
It should be retrace 100% very soon.
expecting Wave C = 0.618 Wave A i.e near 415-420.
