Ambuja Cements was consolidating in an ascending triangle pattern which is typically a bullish pattern.
The price broke out the ascending triangle and closed above the neckline on 22 May 2013.
It is expected that price may continue to move high.
Aggressive traders can enter at current market levels near 425, but the better entry point would be the retest of the...
Price has been in an Upmove since its reacted to a Weekly Demand formed @ 374.80 and the Opposite Resistance is @ 470.00
Yesterday Price made a new high of 412.00 and has retraced back into a 4H Potential Demand, When the proce reacts to Weekly Demands it forms 4H demands on its way towards the target, so we have one more chance to enter the Trade.
ENJOY THE...
Price is in Daily Demand with an amazing Risk Reward and support is from a Weekly Demand which is also a Valid Demand,
Hence can experience an extraordinary high volume in Buying!!!
ENjoy !!! CHeers !
We can enter on NSE:AMBUJACEM once price retest support of 516 with stop loss of 505 (-11 Points). I can expect up side level of 534 (+18 Points).
Note: This is my personal analysis, only for learning. Thanks.
Ambujacement Broken Major Resistance and closing Above
Intraday Levels marked for reference.Also look good for swing and Investment
All levels are for education Purpose only
Waiting for Price action Breakout above Resistance Trend line
All the key levels are mentioned in chart with Stop-loss and Targets
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
