Ambuja Cement have Breakout making following :
Breakout from Major resistance ( Weekly time frame)
Breakout of a channel (Daily Time frame)
Breakout of a Triangle pattern (1 Hr time frame)
The resistance is offered this time by the previous high made by the stock and also the same high that it made in '18.
If the resistance is broken, we can see a good move. Cement stocks are in action with the budget just around the corner.
Keep this on your radar.
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NSE:AMBUJACEM
AMBUJACEM has retested its 2-year trendline and made a bullish candle for the day, with a good amount of volume. It has taken support from uptrend line as well as at 38.6 levels of the previous upswing. We can expect a good move from here.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before...
Ambuja cement is in a Strong uptrend in weekly charts going with that Idea we are taking a long entry in a shorter time frame.
Ambuja cement has given a Breakout in hourly time frame with movements in volume. The second reason to go long is that the stock has taken support twice at the 0.382 levels of the fibo and has formed a double bottom at the respective...
Ambuja cement gave breakdown on inverted CUP AND HANDLE pattern in previous day session. Suggestion is not to short even if it looks very lucrative and clear breakdown. Some of the observations which are very imp as per technical analysis.
1. Good Volume is missing
2. 200 dma is just below the breakdown candle. (security may bounce in some cases and hampers R:R...
In a daily chart, Ambuja Cement is looking very bullish. Historically, the stock takes support on 21DEMA and on last trading session the stock did the same thing and today it gave opening in green. As you can see the price is facing the resistance of the upper trend line. Today stock touches the upper trend line but failed to cross due to lack of buying volume....
Smart money accumulated before starting uptrend.
They will try to defend the position by buying when price comes into buy zone.
Note - High volatility before 9:30am and after 2:45pm. Manage risk accordingly.
![AMBUJACEM: AMBUJA INVERTED CUP & HANDLE BREAKDOWN ALERT [EDUCATIONAL]](https://s3.tradingview.com/c/CG7pnaxB_mid.png "AMBUJA INVERTED CUP & HANDLE BREAKDOWN ALERT [EDUCATIONAL]")
