The stock has given a nice break down of the Head and shoulder pattern.
The markets are in the negative and the stock has given 40% (approx) returns in 30-35 days time.
Stock has broken the neck line of the of the pattern and closed below it.
The stock has closed below its 50% Fibonnaci levels.
Wait for the stock to retest the price level of the neck line and...
AMBUJACEM : Triangle pattern
its trading at triangle patter on daily time frame. also given breakout of Hourly triangle.
Its good to me near retest level of hourly TF & near support. Risk reward ratio is favaroble.
I will wait for bullish Candle near support.
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Disclaimer
I am not sebi registered analyst
My studies...
hi team ,
plz see ambuja cement chart - after weak quaterly result it shows 100 % lowe high pattaern , you have oppertunity to short .
buy - current level 338
sl -350
target - t1 - 321
T2 - 297
AMBUJACEM
bullish price move
expect to minor target first when break the minor target and histroical primary resistanceline goto all time high histroical target
NSE:AMBUJACEM
Observations:
1) On Daily time frame it reversal and break 21DMA and closed above it. But it is below it's nearest resistance range of 410-415.
Please refer below chart : daily time frame.
2) On 1hr time frame, you can see this resistance range 410-415 giving resistance multiple time and only one time it has broke it but couldn't able to...
