AMBUJACEM trade ideas
Ambuja Cements _ Edu PurposeAmbuja Cements is near to its 52 week high, stock looks bullish but there must be some consolidation before move from the current level because RSI is at overbought zone, shooting star formed in one hour chart at the end of the session and among all the stocks which are in overbought zone, Ambuja cements is the only one stock which OI has decreased huge.
Breakout on Daily ChartAmbuja cement was in downtrend since October 2017 and now it has given breakout and ready to given an upmove. Potential targets are mentioned over chart.
Other Technical indicator also giving uptrend signal. Money flow Index has crossed the 20 line and indicated the uptrend . Weighted moving average has also given cross over. All technical indicator are indicating start of an uptrend
disclaimer : This is for education purpose only
View On AMBUJAref. chart
hear lot of pattern can created by market
1- 2T
2- 2B
3 - wolf wave
4 - Wedge
#AMBUJACEM CASH : LOOKS GOOD ABOVE 203.10 (MUST TRADE)#AMBUJACEM CASH (MUST TRADE)
19 FEB 2019
LOOKS GOOD ABOVE 203.10
STOPLOSS 199
TGT 205.50-206/208.50
CMP 199.60
AMBUJA CEMENTS can turn bearish if breaks trend line(blue)AMBUJA CEMENT can turn bearish if breaks trend line(blue)
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AMBUJACEM is available at FUTURES AND OPTIONS .
Short Continuation . Change in the view My view have changed with this scrip , not sure the further rally is possible , Now i am looking this could continue the same trend till 167 ,
ShortShort Ambuja Cement
Cmp - 204.40 -206
Traget - 203.75 - 202.50 - 201.50 ''
Note - all levels are for educational purpose please analyse before taking position
Long This one has one more move up left , we are in side ways correction , usually this kind of structure appear at last of the trend ,
It also indicates the trend so far has come down its about to end
Side ways correction occur during the start of new trend ( when market will change its direction form preceding trend )
any strong reversal one can look for Go long for next move up with trailing stop
