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AMBUJA CEMENT case studyAmbuja cement have give a phenomenon rally from level of 150 to now around 600 levels, almost 4 times in last 2 years, Counter is now trading around 592 levels which is life high levels for the counter, Bearish equivalent harmonic ABCD pattern formation with maturity level around 580-611 levels, now any upward journey in counter should be used to exit your long positions , as harmonic study suggest that counter might face resistance around levels of 590-611 levels, any weekly closing below 580 levels would confirm the trend reversal in counter, RSI have bearish divergence on weekly time frame with respect to price. Fresh investment only suggested above 630 levels on weekly closing basis or wait for a dip till levels of 485-444. Time to be cautious in your investments in this counter.
NSE:AMBUJACEM
by RUDRA007
United Spirits Long opportunityNSE:MCDOWELL_N Stock -> United Sprits (McDowell) TimeFrame -> Weekly Hello all! United Spirits had been moving in a Symmetrical triangle pattern since 2012. It finally broke out of it 9 years later in September 2021 post which it started moving in a flag and pole pattern. After a year in October 2022, it broke out of its flag. This makes for a good opportunity to go long! The confluence of two bullish breakouts combined with support from 50-week EMA and both 200 and 50-day EMA further strengthens my conviction. Risk to Reward ratio also seems decent. *NOT A CALL*
NSE:UNITDSPRLong
by Traders_Town