Ambuja 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...
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...
Ambujacem can be long above 221.5
Entry - 221.5
tgt1 = 223
tgt2 = 225
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Ambuja Cements Limited is an India-based holding company, which is engaged in the manufacture of clinkers and cement. The Company operates through Cement and cement related products segment. The Company has a range of products for the business to business and retail markets. The Company's product, Ambuja Plus Roof Special, is suited for constructing roofs and slabs. It also offers install rooftop rainwater harvesting technology. Its products also include Ambuja Powercem, which caters the ready-mix (RMX) sector; Ambuja Railcem, which is designed for railways, and Ambuja Buildcem, which serves the requirements of the mass housing segment. The Company also co-owns two brands in micro materials category. These include Alccofine, which includes a range of micro slag materials, and Dirk Pozzocrete, which includes superfine fly ash. Alccofine Micro Materials are used in construction projects, such as metro rail, dams, roads, flyovers, bridges and tunnels.
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AMBUJACEM
