Ambujacement
AMBUJA CEMENT parallel channelAMBUJACEM has been trading within a parallel channel since a year.
260 and 274 could be very important levels and could determine the direction of trend in coming days.
Ambuja Cements Bearish Divergence?Stock is in a downward sloping channel with the RSI showing bearish divergence.
SL 239
Tgt - 227
Ambuja Cements - Long?With the cement Industry growing day by day, can Ambuja Cement breakout from the narrow band? RSI and MACD shows positive signs. Stock has seen heavy +ve volumes in the recent weeks.
First Tgt - 280
SL - 235
AMBUJA - the big picture- weekly chart - Elliott waveAmbuja cement is in the heat of wave 3 and i expect it to cross the 300 mark soon
Low probability, low RR in AmbujaCem - let's observeHi! I trade NSE stocks using Demand and Supply zone strategy, mostly in Weekly time frame.
Here's a trading plan for AMBUJACEM
Weekly location: Equilibrium
Daily trend: Up (Let's go long)
Hourly zones: Demand zone marked on chart
Entry: Type 2; i.e. Wait for 1 candle to close inside zone and buy at next green candle
Trade duration (max): 2 week
Note: Target, Entry and SL on chart
Ambuja Cements approaching channel supportAmbuja Cement has been trading in rising channel and after touching resistance, its approaching channel support around 231 in near term.
Ambuja Cements getting ready breakout falling wedge.Ambuja Cemnts touching its long term support 236.90 and has retraced to 61% fibo extension, also forming a falling wedge which combines an analysis that stock is ready to breakout upward, risky trader may enter this stock at CMP and conservative traders may enter after breakout of wedge upward 247.00, this stock may retest the former level of 280.57 in near term.
