AMBUJACEM trade ideas
AMBUACEMAfter a sharp fall, stock enters into a level where it has potential to move upwards. I see a long opportunity here. One can go long by entering at 201.5 with SL placed at 198 for targets towards 205/210
Sell short Ambuja Cement (CMP=211)Sell Short Ambuja Aug Fut or Buy 210 Puts at Rs 6.4
Likely to go as low as 190 by end of the series
Possible BreakoutLooks good above 216.50 for 218/221/223. We can see breakout from ascending triangle. Looking to form W pattern.
Short ( Side way pattern ) One of the most complex pattern are side ways pattern , they tricky to retail traders but not for most trained analyst ,
this scrip is heading in the side ways move and it has move left in it form the current Price
The move within structure can be considered for initial trade entry/ Exit prices
the larger pitcher is its time consuming pattern ,
One can look for short selling opportunity and look to book on trailing stop basis
Intraday Trade Setup for 17th JulyBuy Ambuja Cement @ 217.75
Stop Loss @ 216.55
Target @ 220.15
For More Details Call/WhatsApp @ 9985249018
Ambuja Cement is good for short if did not sustain Red LineAmbuja Cement can be good short if it did not sustain Red Line.
Big W Pattern The Stock has formed big W pattern which is the opposite of big M posted today. We can observe that RSI is showing Divergence One can trade the stock in the following manner :-
Entry current Price 214
SL 207 or below of 204 (Closing) depending upon the risk you want take in this trade
Target 235
Risk/Reward Ratio 3.5
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Ambuja cement Morning Setup - T1 achievedAmbuja Cement is moving to different targets
The targes are actually the intermediate support/resistance.
Our T1 already achived.
T1 - 212
T2 - 208
T3-205
Understanding :
When we observed Ambuja Cement yesterday, we found that it was on a resistance point.
How to know that it is a resistance point ? We see if it is trying more times to go above a point and if previously it did similar. If yes, we draw trend line.
Ok so we understood the resistance point. And thought if we could place a waiting order. Also we targeted our three targets which we expect it to achieve.
Why we set our targets, those will become trailing stoploss .
How we were able to set the target, we tried to understand the next resistances/support that it had got previous. Simply we have set our targets there.
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AMBUJA CEMENT - THE BIG PICTUREBuy ambuja @ the current levels
Both fundamentals and technical look attractive .........
