AMBUJACEM trade ideas
AMBUJA INVERTED CUP & HANDLE BREAKDOWN ALERT [EDUCATIONAL]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 as well)
Alternatively, we should wait for the testing of neckline. A short may be initiated when forms a good bearish or shooting star near neckline
(volume and 200 dma is to be considered as well that time)
Stock Analysis of Ambuja CementIn 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. The stock can try again to break the trend line and horizontal line, which is working as a resistance. If stock sustains above the resistance lines, then the stock can go up to ₹237.05.
RSI is between 50-60 so the stock is not in overbought zone and can go up if gets good volume.
A swing trade with a 1:1 risk to reward ratioTrend breakout in AMBUJACEM BUY: 217.45, SL: 205, TARGET: 230
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We can see a bullish candlestick Pattern i.e piercing line pattern at the swing low also a clear breakout of trend line with a bullish candle.
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Here we can get 1:1 risk reward ratio which is a good opportunity.
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Disclaimer: Do your own analysis or consult with your financial advisor before taking any action.
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-Mohit Rajani
In. Head and shoulderInverted head and shoulder pattern in AMBUJACEM . this is best for short term trading
AMBUJACEM (Long Positional)AMBUJACEM (Long Positional)
Note: Stoploss / Breakout is on closing basis
Ambuja Cements TrendAmbuja cements buy around current level and decline towards 218 and SL on close below 213
AMBUJA CEMENT MAY FALL TO 208 LEVELS SOONERAMBUJA CEMENT MAY FALL TO 208 LEVELS SOONER
ENTRY LEVELS:222-230
STOPLOSS:233
AMBUJACEM - Intraday Trading SetupSmart 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.
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LONG Ambuja CementsFound consolidating for a while crossing 225 can show fireworks,
Best RR price to buy is around 218 with 1-2rs stop below the demand line.
Target will be 7rs from 218 around 225 & if it breaks with volume can see 232 as well but once it has tried to breakout & has failed so its safe to book from 218 to 225. Risky players can give a try holding for breakout
AMBUJA CEMENT broken its range and resistanceAmbujacem had been consolidating since 31Jul near its swing high resistance level (224-225), yesterday that range & resistance got broken with volume. Buying Above
230 seems good bet
