Attached: Ambuja Cements Hourly Chart as of 21st April 2023
Price is heading Down on its Way to Meet the Harmonic Pattern Targets (SELF EXPLANATORY just see Chart for levels)
Some other Points to also note are as follows:
- Hourly MACD in Sell and below 0 line
- Hourly RSI below 30 and Oversold (as it should be in a Bear Trend)
- 20 Hour EMA below 50 Hour EMA...
Attached: Custom Cement Index/ Nifty 50 Daily Chart as of 21st April 2023
(Note: The above Chart is my Custom Cement Index made up of all the F&O Cement Stocks and this is the Ratio/ Relative Strength Chart version of it, against Index Nifty 50. This gives us an idea of the Relative Strength of the Cement Stocks and used to find out whether they are likely to...
Simple and easy consolidation Channel pattern with good support of 200 EMA.
Don't Just draw pattern look for consolidation and price action inside the pattern.
India Cements (NSE Cash)
CMP - 168.60
Support - 165 & 158 levels (always consider 10% +/-)
Resistance - 180 & 186 levels
Weekly Charts (Long Term)
20, 50 & 100 DEMA is perfectly aligned
Candles have been taking support at 20 DEMA since 4 weeks now. This means that the 20 DEMA level will not be broken easily.
Clear Uptrend
MACD is in the bullish zone but there is...
