Raising Wedge Pattern Formed.
Analysis:There are 3 different Possibilities as below.
Case-1:
Buy above 203.9
can go For Longs
Targets are 204.9,206.25,207.5,211.45,212.1++
SL-199.5
Case-2:
It may fall From CMP till 195.9 and due to support there can be PRZ From 195.9 to 205.05.
Case-3:
It may Fall From CMP till 186.85 in coming days.
i shall try to analyze Ambuja cements on Weekly , daily and 4 hourly chart
On the weekly chart shown above ,Inferences are
1) The weekly trend is down (with potential break down below 189)
2) The potential supports on Weekly chart is shown & has a powerful support at 189-195 levels (dotted lines)
Trend is in Sideways and based on pattern analysis if price drops to 198.5 then a long position can be taken with possible target of 217
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk
Please like and follow to get more updates ideas..
Levels are mentioned on the chart..
Know your own risk before invest.This is just my idea not an investment advise..
AMBUJA CEM IS TRADING 20L VOLUME AND 40% DELIVERY.
WHEN THE PRICE TRADES ABOVE THE RESISTANCE AT 215, NEXT TARGET CAN BE 220 / 224 LVL.
WAIT FOR TRADING ABOVE THIS LINE.
As shown in the chart,
Reasons for buy @201
1) Divergence
2) touching the low of the value box shown
3) other reasons - elliott wave pattern
Stop loss - 180
expected Target - 222
Time frame 1 month
Disclosure -
I have personally invested in this stock @ current levels
So i may be biased for long
please do your own analysis
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
